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Oxford Street is Changing
Real Estate is all about location and there is no better location than Central London, where Consulco has investment expertise, a substantial property portfolio and an enviable performance track record.
Westminster lies at the very heart of the capital. The area ranks as number one of the 32 London boroughs in the Well-Being Index, a score relating to health, economic security, safety, education, mobility and environment. Westminster City Council’s target is to lead the world in well-being by 2040 (Westminster City Plan 2019 – 2040).
Many sites commonly associated with London are in the borough, including St. James's Palace, Buckingham Palace, the Palace of Westminster (Houses of Parliament) and 10 Downing Street. The borough is divided into a number of localities including the ancient political district of Westminster; the shopping areas around Oxford Street, Regent Street, Piccadilly and Bond Street; and the night-time entertainment district of Soho.
The area keeps improving and the City of Westminster’s plans include the following works and measures for the Oxford Street and its surrounding area.
- Tottenham Court Station and Bond Street station connectivity on Oxford Street will increase with the next year opening of Cross Rail, the biggest infrastructure project in Europe that will add 10% to central London rail capacity connecting Reading and Heathrow in the west and Sheffield and Abbey Wood in the east. Londoners and tourists will be able to enjoy quick and easier journeys to the Oxford Street area.
- As the visitors and pedestrian are likely to increase the city will reduce Oxford Street driving lanes from four to two, enlarging the pavements and pedestrian space.
- More space for pedestrians throughout the whole district.
- Restricting and removing traffic at appropriate times on certain sections of Oxford Street and its adjacent streets.
- Major improvements at key locations including two new public piazza-style spaces at Oxford Street.
- Encourage and gradually enforce zero emission commercial vehicles and buses.
- Introduce a 20mph limit across the district.
- Encourage cycling and develop proposals for new cycling routes across the district.
- Improve the side streets and passageways off Oxford Street to restore and enhance its character.
- New lighting for Oxford Street, selected by an international design competition, to make the area more lively during the evenings.
- A flexible approach to planning to accommodate more gyms, cafes and leisure operations within Oxford Street retail properties
We appreciate that many investors hunting returns have turned their focus to UK regional cities as well as more peripheral locations in Continental Europe. However, Central London should not be ignored – in good times it experiences rapid rental and capital value growth, while in recessions it holds its values and occupancy levels much better than other property locations and markets. It is this resilience that makes Central London real estate so attractive to the British and international investment community.
Consulco Capital is structuring and managing London Real Estate, Credit and Private Equity Investments for high net worth families and professional investors.
This article is for information purposes only and does not constitute an offer or recommendation of any investment product. Investors must form their own independent decision based on their judgment and/or consult their advisors on the merits of the course of action they are considering taking, and evaluate all the risks, their financial situation and expectations.