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Sadiq Khan’s Bold Plan to Transform Oxford Street: A New Era for London’s Iconic High Street

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March 3, 2025
4 min read

Sadiq Khan’s Bold Plan to Transform Oxford Street: A New Era for London’s Iconic High Street

London’s most famous high street is on the brink of major change. A new consultation has been launched to determine whether Oxford Street’s future should be in the hands of City Hall rather than Westminster Council. The proposal, led by the Mayor of London, aims to revitalise the area, which has been struggling with empty shops, declining footfall, and the changing landscape of retail.

“Oxford Street has been known as the nation’s high street, but the area has suffered in recent years,” the Mayor said. “My proposals are designed to unlock its true potential and deliver a world-class, accessible, clean avenue that restores this famous part of the capital.”

The nine-week consultation, which runs until 2nd May, asks Londoners whether a Mayoral Development Corporation (MDC) should be created to take charge of Oxford Street’s regeneration. This could pave the way for future pedestrianisation, an idea that has been discussed for years but never fully realised. The Mayor believes that a strategic, long-term approach is needed to protect Oxford Street’s future and ensure it remains a thriving shopping and leisure hub.

Londoners are encouraged to have their say on the plans, and those interested in sharing their views can do so directly via the official consultation page.

A Shopping Icon in Decline?

For decades, Oxford Street has been at the heart of London’s retail industry, home to flagship stores, iconic department stores, and a constant stream of visitors. But the rise of online shopping, economic uncertainty, and the effects of the pandemic have hit the high street hard. The result? Shuttered shops, an influx of low-cost discount stores, and a growing perception that Oxford Street has lost its former prestige.

The Mayor argues that without intervention, Oxford Street risks being left behind. His plan is to reduce traffic, improve air quality, attract new businesses, and transform public spaces, making it a more inviting place for shoppers and visitors. “Anybody who has walked down that street – I was there just last weekend – will see that it looks tired,” he said. “There are too many shops that are empty, too many poor-quality shops, and not enough flagship stores.”

How Would the Transformation Be Funded?

The estimated cost of pedestrianisation and regeneration is £150 million, and while the Mayor’s office insists the project would be privately funded, businesses may be asked to contribute through a Crossrail-style levy. Other potential sources of funding include private investment, advertising revenue, and sponsorship deals.

One of the biggest challenges is gaining control over Oxford Street itself. Westminster Council currently oversees the area, and while they have agreed to work with the Mayor on improving Oxford Street, they have stated that an MDC is “not necessary.” If Westminster refuses to transfer control, the Mayor may need Government approval to move forward with the redevelopment.

What Happens Next?

The consultation is a critical first step, allowing Londoners to express their views on who should be in charge of Oxford Street’s future and whether pedestrianisation should be pursued. While the Mayor hopes for a quick resolution, significant changes could take years to implement.

“This is about making Oxford Street a place Londoners and the whole country can be proud of,” he said. “I encourage everyone to have their say on these proposals, which would transform Oxford Street into a clean, exciting, and thriving destination.”

The next few years could determine whether Oxford Street’s future lies in radical transformation or slow decline. What do you think? Should Oxford Street be pedestrianised, or should it remain as it is?

For more updates on Oxford Street’s transformation and further insights, visit EyeOnLondon. We’d love to hear your views. Have your say in the comments below.