Oxford Street overhaul expected to deliver £2.8bn of additional sales by 2033

The £90 million revamp of London's Oxford Street is forecast to deliver between 5-10% of annual sales growth, amounting to a potential benefit of £2.8 billion by 2033.

That’s according to fresh analysis by New West End Company (NWEC), the business improvement district representing over 600 occupier and owner businesses in London’s West End, highlighting the significant boost in sales set to be driven by the landmark Oxford Street Programme – predicted to be completed by 2027.

Dee Corsi, CEO of New West End Company, said: "Oxford Street has long been at the epicentre of retail innovation – a must-see shopping destination for both international and domestic visitors, and a coveted address for businesses.

"Today, the street is redefining itself as a flagship destination for retail, leisure, culture and office space, with continued investments into infrastructure and increased demand from occupiers testament to the street’s enduring appeal and future potential.

"The Oxford Street Programme is a critical component of this once-in-a-lifetime transformation, and today’s figures confirm that the £90 million investment being made will generate significant added value for Oxford Street, and the West End."

The news comes ahead of the launch of NWEC’s upcoming report, ‘Oxford Street: 2030’, which explores this evolution of the street further, looking at how the investment pipeline sits alongside the ongoing shift from transactional retail to immersive retail, cultural and leisure experiences.