Crossrail expected to give West End retailers a revenue boost
The upcoming Crossrail development in London is set to be very beneficial to retailers in the city's West End, according to predictions by the New West End Company.
Within a year of Crossrail's 2018 opening, retail revenues in the area are set to hit £10bn, placing London ahead of any other European city for retail.
The New West End Company represents 600 businesses in Oxford Street, Bond Street and Regent Street and the surrounding area.
Head of Retail Consultancy at Property Advisors Harper Dennis Hobbs Jonathan De Mello said: “London already has an enviable public transport network, and Crossrail will boost this further, with an estimated 200 million passengers journeys annually. Not only will this significantly improve ease of access and travel times into the West End, but it will also ease congestion on key tube lines into central London such as the Central and Piccadilly lines. This will make the West End an even more attractive place to shop.”
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