THE NUMBER of new businesses and customers flocking to Oxford Street is expected to "peak" next year as the iconic retail drag puts the finishing touches on its facelift.

Over the last year, it has been repairing its reputation after a slew of illicit American candy stores infested vacant properties when retailers exited the street during the pandemic. Westminster said it would make shops vacated by the candy stores available to small business owners rent-free and lower business rates by 70 per cent.

Speaking to City A.M. Sam Foyle, director of retail at Savills said that everyone has been looking at the street "really positively" and there are currently 15 deals from businesses under offer.

(c) 2023 City A.M., source Newspaper