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West End retailers to get £2.5bn Crossrail boost

Retailers in the West End will enjoy a £2.45bn boost from the arrival of Crossrail, according to new research.

Turnover for businesses in the area will reach £11.25bn by 2020, compared with £8.8bn today, the New West End Company has said.

The high-speed rail link, which will be completed in 2018, is expected to deliver thousands more shoppers into central London. Footfall around new Crossrail stations at Bond Street and Tottenham Court Road is anticipated to jump 20% and 14% respectively.

Property consultancy Harper Dennis Hobbs predicts Oxford Street will retain the majority of spend with £6.15bn, followed by Regent Street with £1.88bn and Bond Street with £1.44bn.

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