Luxury shopping mecca Bond Street is to undergo a £20m makeover to help secure its future as one of the world’s top retail destinations.
The Bond Street Development Plan will see the first major improvements made to the street in more than 30 years including making it more pedestrian friendly.
The plan has been unveiled by the New West End Company’s Bond Street Development Group, together with Westminster city council and Transport for London.
Among the benefits will be a 50% increase in the amount of pedestrian space on both Old and New Bond Street. It will introduce a two-way traffic scheme on New Bond Street and Brook Street which should help traffic to flow more freely while improving access for pedestrians to the Crossrail station at Hanover Square.
Great Portland Estates chief executive Toby Courtauld said the street had lacked a single vision and had suffered from a lack of leadership and investment.
“Finally, a plan has been developed which brings together the authorities, property interests and brands into a comprehensive proposal that will see Bond Street return to its former glory,” he said.
