Impact on retail
To bolster the prospects of this coming to fruition, a Mayoral Development Corporation (MDC) will be created, which would have planning powers around its delivery. However, the creation of the MDC itself will be subject to statutory consultation and consideration by the London Assembly. If successful, the MDC’s role as the determining planning authority is expected to replace Westminster Council’s and presumably enable the delivery of Oxford Street’s pedestrianisation after some 60 years of considerations.
The increase in flexible town centre uses and need for a wider retail experience is apparent, with pedestrianisation linked to retail becoming more experiential and omnichannel. Such improvements are becoming crucial as consumers increasingly prioritise experience. And with over 500,000 daily visitors, the MDC has the ambitious task of revitalising the experience of different users.
This places emphasis on maximising efficiency, delivering innovation and balancing distinct – and potentially competing – demands. Criticisms of the scheme include accessibility concerns for elderly and disabled users as well as maintaining affordability for workers and low-income groups. There is also the very technical challenge of rerouting 16 bus routes and minimising pressure on surrounding roads, for deliveries and servicing for example.