Just before lockdown, Oxford Street was an exciting destination. I walked regularly up and down Oxford Street, getting to various Central London destinations.
Debenhams, House of Fraser, Top Shop, the Gap - they all enticed passersby inside, with sizzle, magic, panache. All of them are now gone. The remaining jewels in the crown are surrounded by a down-at-heel assortment of shops that struggle to attract the sort of crowds we were used to on England’s most famous shopping street.
Of course, the internet and lockdown are two major reasons for Oxford Street’s precipitous decline.
Westminster City Council is one of the few councils in the country which obtains most of its income from business rates, rather than from individuals’ council tax. This means that a decline in business rates receipts leaves remaining small businesses with absurdly high bills, which often make their businesses unfeasible. As Westminster City Council residents we are very attached to our low council tax bills. Encouraging businesses into the area is vital if individual residentswan to retain such low levels of council tax.
Should Westminster City Council just accept the decline of Oxford Street or is there anything that can be done to manage Oxford Street’s transition?
I believe we can and should be proactive in ensuring Oxford Street remains an attractive place for locals and visitors.
What can be done?
Attract businesses displaced by Cross Rail into Oxford Street.
Simplify regulations on a pragmatic basis to empower entrepreneurs.
Encourage entrepreneurs to base entertainment venues on Oxford Street.
Young people are happy to spend money in nightclubs, escape rooms, co-working spaces, start-up accelerators, live music events, immersive experiences, the list goes on.
Let’s light up Oxford Street as the most vibrant meeting place for young people post-Pandemic.
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