Prior to the pandemic, London’s West End, which is to say the world-famous streets of Oxford, Bond and Regent and their interconnecting roads and alleyways, contributed the equivalent in GDP to UK economy of the entire country entire of Wales.
Much of that was down to its stores and the attraction they hold for shoppers from around the UK, and, importantly, around the world. Some of the planet’s most famous stores, such as Liberty, Selfridges and, of course, the Topshop flagship (and what will happen to that is a story of its own) are all housed in the area. But the COVID-19 pandemic has brought it to a standstill.
Footfall in central London has been the hardest hit by the pandemic and at times has been down by more than 80% year on year. Nonetheless, this is the West End of London. It is the beating heart of one of the world’s most vibrant and resilient cities and a rebirth awaits.
In the latest episode of the In Detail podcast, Lauretta Roberts, Editor in chief of TheIndustry.fashion is joined by a man who will play a pivotal role in the renaissance of the West End - Jace Tyrrell, Chief Executive of the New West End Company, which represents the area’s business community, including its shops and restaurants.
Jace works tirelessly to promote the area, to lobby politicians, to collaborate with the council and to attract the best tenants to ensure the West End remains successful. With a number of big name retailers exiting the area, his next task is to ensure is populated with an exciting array of retail, experience and entertain to ensure it can regain its place in the world stage.
We talk VAT, business rates, Crossrail and just who or what might fill those empty spaces on Oxford Street.