London's Bond Street gets 20 million pound makeover

Wednesday, 15 October 2014
London's Bond Street is to get its first major revamp in 30 years with a new 20 million pound investment. As one of the world's most luxurious shopping destinations, the investment will seek to improve the street without losing its character.

Bond Street will see a 50 percent increase in pedestrian space

There will be an increase in pedestrian space by 50 percent in addition to expanding on-street parking, as upgrading the look with new lighting, signage and public art installations. There will also be some re-landscaping of the public oasis between New and Old Bond Street.

According to recent finding by Atkins, 62 percent of traffic on Bond Street is from private car or taxi, the project will also introduce a two-way traffic scheme on New Bond Street and Brook Street, to enable better traffic flow and improved access for private vehicles.

Bond Street tube station is also currently being upgraded due to the new Crossrail being introduced. Customers will benefit from quicker and easier journeys with a new ticket hall and new station entrance on the north side of Oxford Street.

Beverley Aspinall, managing director of Bond Street, part of New West End Company, said: “Bond Street is one of the strongest luxury destinations in the world. This is demonstrated through an ever-increasing demand from luxury powerhouse brands to locate here. Our plan will deliver significant commercial return as seen in other areas of London that have undergone a similar remodelling and investment over the last decade.”

Mark Fenwick, chairman of the Fenwick department store group and deputy chairman of New West End Company’s Bond Street Development Group, added: "Fenwick has been on the corner of Bond Street and Brook Street for over a hundred years and has experienced first-hand the unique complexities of the multiple property ownership on the Street. Our improvement plan is a significant milestone towards making this street a phenomenal world leading luxury destination."

The delivery partners have now been appointed and will complete the improvement plans in time for the opening of Crossrail in 2018.

Image: Bond Street