Small businesses to be offered rent-free stores on Oxford Street

Westminster City Council has partnered with New West End Company to launch a new programme called Meanwhile On: Oxford Street, which is encouraging applications from up-and-coming businesses that are looking to launch their first physical space. Meanwhile On: Oxford Street will offer “substantial” support by providing a six month tenancy in a rent-free, fully fitted store in a prime location and over 70% reduction on business rates. Westminster City Council said the programme aims to activate empty spaces previously taken up by low quality occupiers, including the increased number of American candy stores on Oxford Street. To be considered, brands “need to be able to offer something unique to Oxford Street’s audience”, and winners will be expected to “bring their brand’s story to life through new experiential methods”. This can include virtual reality, interactive exhibitions or live production demonstrations. Although rent free, successful applicants must be able to fund the other associated costs of running a store for six months and show potential to launch long-term after developing their brand through the programme. Westminster City Council has appointed Someday Studios to deliver the three-year project. Someday Studios is a retail placemaking consultancy that helps landlords transform underused spaces into “vibrant destinations” that support local start-ups and creatives. Design agency FormRoom, which has previously delivered stores for the likes of Fortnum and Mason, Liberty, Harrods, Selfridges, Charlotte Tilbury and Balenciaga, will design the first store. New opportunities for brands will also continue to roll out over the coming months and years, as units become available. Meanwhile On: Oxford Street is expected to support around 35 brands over three years, with the first store opening this Autumn. Someday Studios said: “We’re delighted to have been chosen to deliver this campaign for Westminster City Council, and to play a part in helping to shape the future of one of the world’s most iconic retail streets. Our passion is helping to build and nurture talented new brands; we can’t wait to see what London has to offer and are excited to help the winners make the most of this incredible opportunity to showcase their brand to millions.” Cllr Geoff Barraclough, cabinet member for Planning and Economic Development added: “The West End has recovered quickly from the pandemic but there are still too many vacant units and poor-quality occupants. That’s why we’ve set up Meanwhile On: Oxford Street to help fill the gaps with upcoming brands showcasing their innovative new ideas. I am excited to welcome new brands to one of the most famous streets in Europe, and support them with free rent, reduced business rates and help with promoting their businesses.” Dee Corsi, CEO of New West End Company, concluded: “The West End is internationally recognised as one of the world’s most iconic retail and leisure destinations. As a result, it has always been at the forefront for brands looking to engage with consumers in new and innovative ways – businesses that come here, do so to put their best foot forward. “The addition of pioneering brands, through the Meanwhile On programme, is just one of many indicators of the district’s wider growth, and we look forward to welcoming the successful applicants to the area.”