Crossrail to raise West End's turnover to £31m/day

By

Cajsa Lykke Carlson

Published
Oct 5, 2015

The Crossrail infrastructure project looks set to have a hugely positive effect on London's West End, the city's retail and leisure centre, when it's fully operational in 2019.

A year after the launch, the West End is predicted to generate an additional £2.45bn in revenues, up to £11.25bn. Turnover will be £31m per day, according to the New West End Company.

In a survey of 3,000 respondents, nearly half, 47% said they would use Crossrail once it is fully operational, and almost a third (33%) said they would shop more regularly in the West End.

As new stations are added at Bond Street and Tottenham Court Road, the first will see a 20% rise in footfall and the second a 14% increase. And the area around Oxford Circus looks set to be less crowded, with a 20% reduction in passengers predicted.

The Crossrail route stretches over 100km from Reading and Heathrow, under central London and to Shenfield and Abby Wood in the East, so it should also extend the West End's catchment area.

Sir Peter Rogers, Chairman of New West End Company, said: “There’s been a growing optimism throughout the West End as the opportunities that Crossrail presents have become clearer. This new research shows the sheer scale of the economic boost this remarkable project will bring to the 600 plus retailers that occupy the area. Importantly Crossrail will also allow for the reduction in traffic above ground and a new strategy to ensure Central London can meet air quality standards.”

Richard de Cani, TfL's Managing Director of Planning, said: “The report provides further evidence to support the view that Crossrail is a real catalyst for change to maintain the West End as premier visitor attraction. Crossrail will provide extra capacity to tackle existing crowding on the Tube and provide space to accommodate future growth whilst improving connectivity to further broaden the catchment of the West End. "