Westminster City Council and New West End Company are offering up-and-coming brands and entrepreneurs the chance to open their first physical space for six months rent-free, on Oxford Street, W1.
The multi-million-pound initiative, called Meanwhile On: Oxford Street, will offer provision of a six-month tenancy in a rent-free, fully fitted store and a more than 70% reduction in business rates.
Although rent-free, successful applicants must be able to fund the other associated costs of running a store and show potential to launch long-term after developing their brand through the programme.
The campaign forms part of the council’s “fairer economy” agenda to invite new brands to the city’s high streets, with the aim of reviving spaces vacated by low-quality occupiers including American candy shops.
The winners will be expected to showcase their brands through experiential methods such as virtual reality, interactive exhibitions or live production demonstrations, showcasing the manufacturing process and inviting visitors to participate in events.
The council has appointed retail placemaking consultancy Someday Studios to deliver the three-year project.
Someday, which helps landlords transform underused spaces into locations supporting local start-ups and creatives, was founded earlier this year by Aoife Byrne and Becky Jones.
The duo have previously launched, operated and marketed some of the UK’s biggest multi-let retail sites, opened more than 500 stores and worked alongside more than 2,500 entrepreneurs.
The initiative is expected to support around 35 brands in the next three years, with the first store opening this autumn.
Design agency FormRoom will design the first store. New opportunities for brands will continue to roll out as spaces become available.
Geoff Barraclough, councillor and cabinet member for planning and economic development, said: “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 have set up Meanwhile On: Oxford Street to help fill the gaps with upcoming brands showcasing their innovative new ideas.”
Dee Corsi, chief executive of New West End Company, said: “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.”
A representative for Someday Studios said that through its involvement, it will “play a part in helping to shape the future of one of the world’s most iconic retail streets”.
Businesses that took part in Westminster City Council’s previous pop-up programmes include Lab Tonica, which ran a short-term store on Regent Street, W1, and Petit Pli, which went on to open its own permanent store at Battersea Power Station, SW11.
To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews
See which agents are doing the most deals in the London submarkets >>
Image © New West End Company
