Fitzrovia is an essential cog within the West End economy. The district makes a significant economic contribution to the core West End which itself accounts for 20% of London’s annual GDP.
Over 128,000 people work within 0.5 miles of the Fitzrovia BID area taking advantage of the shopping, dining and social services available during lunchtime or after work. This workforce is a significant driver for the local economy.
To provide our members with an in-depth understanding of Fitzrovia’s commercial environment, in autumn 2013, we commissioned an independent assessment of the area’s current and future provision from leading economic analysts CACI.
The Report provides information about those who work, live, and visit Fitzrovia. It explores the key economic sectors – retail, food and beverage, and office – and incorporates Cushman & Wakefield’s tracking of rental market prices and their suggestions of future trends.
The study will allow the Fitzrovia Partnership to promote the district more effectively, embrace the needs of local businesses and develop a positive environment for future investment. The result is a diverse and vibrant, local economy that retains and attracts key businesses and a suitably skilled workforce.
We have installed six footfall camera’s in key locations along the length of Tottenham Court Road and Charlotte Street. The weekly report, covers footfall figures for the area, against greater London and the UK, which along with year-on-year figures, gives an insight into key trends and patterns. Weekly reports can be found here.
Currently 19 member businesses participate in our ‘High Street Perform’ report. Those participating are able to access key sales data that together with the footfall figures contribute towards a comprehensive understanding of the area’s trading performance. This data can be used to help shape retail strategies.
Monthly reports are available to those involved in the scheme. Contact the team to find out more about participating in this report.
The Fitzrovia Partnership has delivered a Green Infrastructure Audit (GIA) in Partnership with Arup to help identify opportunities for urban greening in the area.
We aim to work with our partners to establish Fitzrovia as one of the greenest BIDs in London, with a particular focus meeting the demands of increasing footfall and improving air quality. The GIA – delivered with our partners Arup – maps the existing green assets of Fitzrovia alongside the objectives of businesses, residents and stakeholders to present an overall strategy and vision for the future.
The Report is providing a blueprint to agreeing how the businesses and communities of Fitzrovia will work together to enhance the green infrastructure of our area.
The GIA has recommended:
Contact us to learn more about the audit
In 2015, the Partnership commissioned CACI to investigate the Retail mix of activity on Tottenham Court Road.
The key findings of The Study were:
Arup was commissioned by The Fitzrovia Partnership and its neighbouring BIDs to undertake a study in order to help businesses, local authorities and other organisations revisit and plan for the likely impacts and opportunities that Crossrail may bring to central London.
The Report breaks down the figures further to explain that Bond Street, Tottenham Court Road and Farringdon will handle approximately three-quarters of a million people per day by 2026 – an additional half million compared to 2013 levels.
Project Timeline and Milestones
Major fit-out of stations and tunnels continues as does the major upgrade of the existing rail network for Crossrail services by Network Rail.
The first new Crossrail rolling stock will start to replace existing suburban trains between Liverpool Street and Shenfield.
Crossrail OPENS – In late 2018, the first Crossrail services will start through the central London tunnelled section.
In late 2019, the full Crossrail service will be operating from Heathrow and Reading to Abbey Wood and Shenfield.
Arup’s projections indicate that Tottenham Court Road station could achieve demand of some 110 million passengers per annum equivalent to approximately 300,000 passengers per day in 2026. These figures represent an increase of some 250% compared to current levels and 50% compared to a projection based upon Crossrail Ltd’s approach.
The West End Project is being led by Camden Council with an aim to “transform the Tottenham Court Road area, making it safer and more attractive for residents, boosting business and creating new public spaces”.
The Project sees the one-way system on Tottenham Court Road replaced with two-way traffic, tree-lined streets, increased protected cycle lanes and new public space. The scheme will reduce congestion and pollution, widen pavements and make bus journeys quicker. Camden have secured £26 million of investment to deliver this project in improving London’s West End.
The aim of these improvements is to unlock the area’s potential, advancing business and enhancing the public spaces for the community and visitors to enjoy. The project will be delivered by 2018 in time for the opening of Crossrail, when Tottenham Court Road station is predicted to be busier than Heathrow Airport.
The current issues
Camden have assessed the impacts of the proposals and these would be:
Following public consultation, which included contributions from The Fitzrovia Partnership and its members, Camden Council’s proposals for the West End Project were approved by Cabinet on 22 January 2015
The Fitzrovia Partnership welcomes the work Camden council has done to date the West End Project (WEP) and the decisions made within Cabinet. The Fitzrovia Partnership submitted a full response to the WEP on behalf of our members and is committed to ensuring the Fitzrovia area benefits from the proposals. We will be updating members further when Camden have progressed their decision making following future meetings.