Westminster City Council is offering small businesses six months of free rent to revive the iconic Oxford Street.
London’s flagship high street has become a hotbed for American-style candy stores which council leaders have described as an “eyesore”.
The council is hoping to that to move in up 35 small businesses in spaces currently taken up by “low quality” stores, according to a report in the Evening Standard.
Aimed at businesses looking to launch their first physical space or store, the selected brands will be given a prime location for a six-month period, rent-free, and with a minimum reduction of business rates of 70%.
The scheme is estimated to cost more than £10mln, with the first store expected to open this autumn.
Stores will either be available for single occupancy or as a “themed concept store” shared between multiple brands.
“There’s an element of pride in this, of fixing our High Street,” said councillor Geoff Barraclough in the Standard.
“But there will be more interesting shops with more interesting things to come and look at. It’s great to come to Zara and Primark and IKEA but also it’s interesting to see some new and different brands that will sell things that you normally can’t get in the shops.”