Westminster City Council is joining forces with New West End Company to offer rent-free shops on Oxford Street to small businesses as a consultation on the future of the famous shopping street begins.
Up-and-coming brands, entrepreneurs and creatives who want to launch their first physical store can apply for a site on the famous street, under the Meanwhile On: Oxford Street programme.
Those who manage to nab a spot will be given “a six month tenancy in a rent free, fully fitted store” and an “over 70% reduction on business rates”.
It comes as Westminster Council kicked off a consultation into the future of the famous shopping street yesterday, which laid out its vision for the street, alongside the New West End Company (NWEC).
The “much-needed facelift” of Oxford Street includes public realm improvements along the entire 1.8km length of the street from Marble Arch to Tottenham Court Road.
The plans included increasing the amount of pedestrian space, enhancing lighting and adding more green areas with seating for weary shoppers.
Meanwhile, junctions adjoining the street, including at Oxford Circus will be redesigned to create more space for pedestrians to move around, and 12 new crossings will be introduced.
The public consultation is open until 31 August.
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Westminster City Council’s cabinet member for planning and economic development Cllr Geoff Barraclough said: “The West End Constantly needs to adapt if it is to continue to draw shoppers from around the country and around the world.
“We have great brands such as Selfridges and John Lewis, and we’re pleased that Ikea and H&M will both be opening on Oxford Street later this year. But we need to innovate and ensure we can offer a top-class experience for everyone.
“I want Oxford Street to be a place local communities, residents and visitors and businesses can feel pride in.”
NWEC chief executive Dee Corsi added: “The proposed enhancement of Oxford Street’s public realm infrastructure is part of a bigger, once-in-a-lifetime opportunity to regenerate one of the world’s most iconic retail and leisure destinations.
“This partnership between NWEC and Westminster City Council is happening against a backdrop of wider, positive shifts in the market; from the progress of ambitious, multi-use redevelopment projects to the signing of new global flagships, and the return of iconic brands such as HMV.
“We are already seeing increased footfall and dwell time as a result of the Elizabeth Line, which underscores the need for an enhanced visitor experience that will encourage more visitors to come more often and stay for longer.”
The rent-free store initiative, which is run by retail placemaking consultancy Someday Studios, comes under Westminster City Council’s wider Fairer Economy agenda, which welcomes new brands to the city’s high streets.
The programme also aims to occupy empty spaces previously filled by “low quality occupiers”.
Brands can apply to be part of the Meanwhile on: Oxford Street programme here.
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