The Big Question: Will Oxford Street regeneration plans revive retail’s fortunes?

Julian Dunkerton, chief executive, Superdry

A hill’s not going to help. Pedestrianisation definitely would.

Also, there needs to be some thought about space for nurturing young up-and-coming brands.

London’s renowned for creativity and fashion, but there’s nowhere for them to go at the moment and we are in danger of losing that if there isn’t the space. 

Simon Quin, executive director, High Streets Task Force

When I was first taken to Oxford Street as a boy, it seemed elegant, chic and exciting. Over the last 10 to 15 years, despite the brilliant efforts of New West End Company and great new buildings, there is no doubting its decline. As probably everyone is aware, the east end of the street no longer reflects what Oxford Street should be about.

The new proposals are excellent. For some years, Oxford Street has seemed little better than an airport corridor, but the focus in the plan for three centres will change all that.

The fact that there will be 97 projects across 88 different streets will revolutionise the area and bring a coherence to it that will encourage exploration for visitors and prompt investment by owners and occupiers.

I think all of us will look forward to seeing the results and the contribution this makes to London’s status as the world’s leading city.

It is also good to see the contribution this makes to net-zero and the amount of community involvement already undertaken.

Hugh Radojev, senior reporter, Retail Week

No, I don’t think a man-made hill overlooking Marble Arch, on its own at least, is going to be enough to reverse the incredible damage done to the district by the last year.

However, it’s not just the one project. By pedestrianising parts of the street, adding more open green space and tying it all in around the three major transport hubs – Oxford Circus, Marble Arch and Tottenham Court Road – there will certainly be an added incentive for people to head into town and walk the mile again.

Having said that, with this lockdown potentially stretching on until April or so, I’m not sure Westminster City Council needed to do anything in particular to encourage people to return to the West End when it’s safe to finally do so.

The promise of open stores, warm summer weather and a predominantly vaccinated population would do well enough.

Ultimately, the hill is a gimmick. Gimmicks will be enough for one visit, but it won’t be enough to sustain footfall.

In order to do that, landlords, the council and retailers need to work together to diversify the offering on the street.

And, of course, the chancellor needs to fix business rates. Until those two things happen, everything else is just window dressing.