West End to receive £2.9bn ‘rebirth’ fund

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London’s Oxford Street and its surrounds are set to receive £2.9bn in additional investment by the end of 2022, which will “catalyse the birth of a new West End”.

In its Oxford Street 2022: The Vibrant Future report, the New West End Company says the capital’s famous shopping district is due to receive £2.9bn in investment over the next 1,000 days.

The funding will be split between investment from new developments, as well as £150m over the next three years from Westminster City Council on public realm works in the district.

The West End is also due to be reclassified as an “international centre”, which will allow for mixed-use developments and new operators to take space alongside traditional high street retailers.

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