Bond Street to undergo GBP20 million revamp

London’s Bond Street will undergo its biggest makeover in more than 30 years as part of a £20 million development plan backed by New West End Company and Westminster City Council.

The plans include the redesign of the carriageway on Old and New Bond Street, which will increase pedestrian space up to 50%.

A two-way traffic scheme will also be introduced to improve access for cars and taxis, as well as connectivity to the new Crossrail station and Hanover Square.

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There will be greater on-street parking provision for private cars, which currently make up 62% of traffic on Bond Street, and public art installations capturing Bond Street’s history will be implemented.

Beverley Aspinall, managing director of Bond Street, part of New West End Company, commented: “Bond Street is one of the strongest luxury destinations in the world. This is demonstrated through an ever-increasing demand from luxury powerhouse brands to locate here. Our plan will deliver significant commercial return as seen in other areas of London that have undergone a similar remodelling and investment over the last decade.”

Fenwick, one of the street’s tenants in the street, also backed the development plans.

"Fenwick has been on the corner of Bond Street and Brook Street for over a hundred years and has experienced first-hand the unique complexities of the multiple property ownership on the Street. Our improvement plan is a significant milestone towards making this street a phenomenal world leading luxury destination,” said Mark Fenwick, chairman of Fenwick and deputy chairman of Bond Street Development Group.

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