Elizabeth Line to boost West End sales by up to £7bn by 2031

It has been predicted that increased visitor numbers in to the West End using the Elizabeth Line will lead to around a 7% boost in the district’s annual performance by 2031, influencing between £700 million and £800 million a year, and between £5 billion and £7 billion by 2031, in additional sales.

The Elizabeth Line is expected to be the main mode of transport for 13% of visitors into the West End by 2023, with a 30% increase at Bond Street, which finally opens on 24 October 2022, according to a report by Colliers Retail Strategy & Analytics which was commissioned by New West End Company to forecast the impact of the Elizabeth Line on West End footfall and sales performance.

Bond Street station, described last month by outgoing London Transport Commissioner Andy Byford as “the jewel in the crown of the West End's transport provision,” will help deliver passengers direct to the heart of Oxford Street and allow interchanges with the Jubilee and Central lines.

The station will accommodate almost 140,000 Elizabeth Line passengers daily, contributing to an overall station capacity of 225,000 across the Central, Jubilee and Elizabeth lines.

The next major stage for the Elizabeth Line will take place a few weeks later on 6 November, with the line starting to open regularly on Sundays and running between Shenfield and Paddington, and between Abbey Wood and Reading/Heathrow.

The final and full timetable, which includes end-to-end journeys and up to 24 trains per hour during peak times, is on track to be complete by May 2023.

The reintroduction of tax-free shopping to UK high streets is another major boost for West End retailers, which could bring in an extra £2 billion in spend in the district annually.