At New West End Company, we work closely with our corporate and associate partners to promote the West End to global markets through international conferences, trade shows, trade missions and positive media narratives. The West End is a world-class destination of global flagships, international brands, renowned restaurants, hotels and galleries. Any brand that chooses the West End is without doubt in world-class company.
The West End International Centre is undergoing monumental transformation. With the diversification and repurposing of the high street, the West End’s future looks bright. Despite negative headlines, we have seen continued confidence in the district, with over £5 billion of private investment and development underway, whether though planning or breaking ground in the district.
TOMORROW’S WEST END: SEIZE THE MOMENT
With Crossrail opening within the coming months and Westminster City Council delivering a £150 million public realm transformation scheme for the Oxford Street District, the West End’s International Centre is undergoing a monumental transformation. Read on to explore the committed investment, upcoming developments and unique insights into one of the world’s most renowned shopping and leisure destinations at we look at the decade ahead. It’s a truly, transformative moment for the West End, and now is the time to seize this generational opportunity.
£5 BILLION OF MAJOR DEVELOPMENT SCHEMES UNDERWAY
Whether it is new buildings, redevelopment or repurposing older buildings, this unprecedented level of investment shows the confidence of both current and future occupiers and landowners in the West End. 76% of new schemes are mixed developments, with increased office space and diversified retail and leisure offerings. New planning regulations means that there is more flexible use for ground floor units and we expect to see offerings beyond retail appearing on our high streets.
£220 MILLION PUBLIC REALM SCHEMES
These ambitious projects will strengthen the area’s world-renowned status for future occupiers and those who live work and visit the West End. Current projects underway include Westminster City Council’s £150 million Oxford Street District Transformation, Great Portland Estate’s Hanover Square redevelopment and Grosvenor GBI’s tranformation of Grosvenor Square and South Molton Triangle.
76% OF DEVELOPMENTS ARE MIXED USE
This figure not only highlights the continued evolution and agility of the high street, but showcases the West End as moving beyond its traditional “retail only” perception. Mixed use schemes allow heritage buildings to be adapted for contemporary uses, allowing for the diversification of the high street.
£18 BILLION TRANSPORT INFRASTRUCTURE INVESTMENT
With the Elizabeth Line opening in 2022, London’s West End will be better connected than ever before. Not only will the Elizabeth Line offer better travel times and experience for visitors, it also provides enhanced public realm, creating two new gateways to the district at Bond Street and Tottenham Court Road.
£180 BILLION IN HOUSEHOLD SAVINGS
The UK Teasury recently reported that UK households have amassed a total of £180 billion in unplanned savings during the pandemic. As restrictions have lifted, there is a pent up demand for consumer wanting to spend more on products and experiences that they have missed over the past year and a half.
2% INCREASE IN AVERAGE TRANSACTION VALUE
Whether its retail, restaurants, hotels, bars or theatres, we have seen a rise in average transaction value of 2% since pre-pandemic levels (July 2021). Now is the time for businesses to take advantage of this pent up demand and invest in retail, leisure and culture as the UK looks to make up for lost time in spending habits.