Shaping Change in Fitzrovia

3

SHAPING CHANGE IN FITZROVIAFITZROVIA AND ITS SURROUNDING DISTRICTS ARE GOING THROUGH A

PERIOD OF CONSIDERABLE CHANGE. MANY OF THESE DEVELOPMENTS

WILL HAVE DIRECT AND INDIRECT IMPACTS UPON FITZROVIA. AS SUCH,

THERE IS AN OPPORTUNITY FOR THE FITZROVIA PARTNERSHIP TO HELP

SHAPE THIS CHANGE WITH RESPECT TO HOW IT WANTS TO SEE FITZROVIA

EVOLVE AND GROW.

44 Whitfield Street

Fitzrovia sits within the West End. A residential neighbourhood in its own right, the area is well-known as a furniture and design retail centre for London. It also hosts world-renowned higher education and healthcare institutions.

Fitzrovia’s mix of residents, students, businesses, shoppers and visitors make the area vibrant throughout the week. As major connectivity and accessibility projects unfold, the neighbourhood will become more accessible to workers and visitors from further afield. Increasing footfall and demand for homes and commercial space will place pressure on public services and amenities that make Fitzrovia the attractive, safe and vibrant area it is.

As Fitzrovia and its neighbouring areas grow, The Fitzrovia Partnership will need to play a critical role in making the most of growth opportunities whilst also helping Fitzrovia retain its historical character and attributes. By doing so The Fitzrovia Partnership can help to secure lasting value for businesses, retain residents and mitigate some of the day-to-day challenges of increased economic activity and footfall pressure.

FITZROVIA’S UNIQUE CHARACTER

Outlined in The Fitzrovia Action Plan issued by Camden Council in 2012, Fitzrovia is unlike any other neighbourhood of central London.

A mix of residential, commercial and institutional uses; within the area as a whole, within streets and often within individual buildings.

A significant residential community, a large number of jobs based in the area, a substantial student population but a lack of affordable homes.

A contrast between busy commercial streets including Tottenham Court Road and quieter, more residential areas.

A ‘dense urban feel’ with limited public open space, relieved by some relatively broad tree-lined streets and long views.

Numerous heritage assets, including Georgian terraces with a harmony of height, windows and materials, contrasting with a variety of modern scales and styles.

Formal squares and grid pattern streets intersected by mews passages and walkways.

A fine-grain of small buildings interrupted by mansion blocks, institutional buildings, hotels, and office premises.

5Colville Place

BACKGROUNDFITZROVIA AND ITS SURROUNDING

DISTRICTS – PARTICULARLY THE WEST END

AND MIDTOWN ARE GOING THROUGH A

PERIOD OF CONSIDERABLE CHANGE.

These include:

The building stock – upgrades to existing commercial buildings, redevelopment and increasing amounts of residential development.

Major transport projects and changes to services – Tube station upgrades, Crossrail 1, the removal of gyratories and one-way systems alongside full or partial pedestrianisation of Oxford Street, changes to bus routings and the introduction of the night Tube.

Public realm improvements to complement the infrastructure change – pavement, lighting and green space.

The economy of Fitzrovia and its surrounds is in flux with an increasing shift towards higher value-added commercial and retail activities.

Over the longer term, further schemes may materialise, such as:

The designation of Opportunity Areas; or intensification areas as part of the London Plan updating process.

The redevelopment of Euston as part of the HS2 project.

New station capacity at Tottenham Court Road station as part of the proposed Crossrail 2 line.

413 Fitzroy Street

TOTTENHAM COURT ROAD AND EUSTON OPPORTUNITY AREAS TO 2025

Two locations in and around Fitzrovia – at Euston and Tottenham Court Road – have been identified in the London Plan and the Camden Core Strategy, as Opportunity and Growth Areas. Development in these areas is likely to place additional day-to-day demands on Fitzrovia by attracting more visitors and businesses as well as shorter term construction impacts, some of which are already being experienced.

Fitzrovia will continue to experience considerable change in the short, medium and long term resulting from investment in transport, the public realm, commercial and residential developments. These changes represent opportunities to generate local economic benefits for businesses and an improved quality of place for residents and visitors. However, they also bring with them a range of drawbacks including noise, congestion and general disruption to the neighbourhood. Continuing action by The Fitzrovia Partnership and its partners will be required to mitigate the negative impacts of growth and change and to secure lasting benefits from them.

The schemes, policies and developments shown represent key areas of change which are, we believe, likely to impact Fitzrovia, The Fitzrovia Partnership’s members and the area’s residential community.

The Fitzrovia Partnership has a key role to play in shaping local policies, programmes and initiatives that bring the maximum benefits from growth for Fitzrovia businesses and residents. This will require working with the LB Camden, the GLA, Transport for London, developers, residents and the West End Partnership, and other parties who help to maintain, renew and manage the neighbourhood.

LOCAL GOVERNMENT BUDGET CUTS

Local authority budgets have fallen since the Coalition Government took power in 2010 and austerity is likely to continue in some form until at least 2020. Cuts to local government budgets have put pressure on The Fitzrovia Partnership and Business Improvement Districts generally, to provide non-statutory services that councils have historically provided, rather than providing services, which are wholly ‘additional’ for businesses.

Timescale of major changes close to and within The Fitzrovia Partnership BID area

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034

Crossrail 1–TCR

The West End Project

Oxford Street Pedestrianisation

St Giles

The Fitzrovia Action Plan

Euston OA

Tottenham Court Road OA

Crossrail 2–TCR

HS2 at Euston Station

6 7

Created in 2011, before the establishment of The Fitzrovia Partnership, the Tottenham Court Road Opportunity Area has a core objective of providing a minimum of 5,000 new jobs and at least 500 new homes between 2010/11 and 2024/25. The Opportunity Area contains a number of key development sites such as St Giles, the impact of which is detailed elsewhere in this report.

The Opportunity Area also aims to catalyse further private sector investment by facilitating and encouraging pedestrian movement within and around the Opportunity Area through:

Public realm improvements to St. Giles, Tottenham Court Road and the eastern end of Oxford Street; enhancing connectivity between Covent Garden, Oxford Street and Bloomsbury.

Specific site redevelopment to provide additional residential and commercial floorspace.

A strong retail offer and presence especially at street level.

Tottenham Court Road

Fitzroy Square

The Euston Opportunity Area, still in preparation, is understood to have objectives of 7,700 new jobs and 2,800 new homes through to completion. Euston will generate a large amount of development activity especially with the arrival of the HS2 Euston Station and Crossrail 2.

Both areas reflect their important role as part of central London – serving the wider employment and commercial needs of Greater London. Subject as always to the suitability of proposed development, growth and expansion provide an opportunity for Fitzrovia’s businesses. Residents can also benefit if the boroughs are able to agree S106 type arrangements, which in turn can provide resources for the provision of improved community facilities and infrastructure.

TRANSPORT AND PUBLIC REALM PROJECTSTRANSPORT AND PUBLIC REALM PROJECTS

ARE LIKELY TO SIGNIFICANTLY IMPROVE

CONNECTIVITY AND RESHAPE EVERYDAY

PATTERNS OF MOVEMENT WITHIN FITZROVIA.

THESE CHANGES SHOULD TURN INTO GROWTH

OPPORTUNITIES FOR LOCAL BUSINESSES.

BUT THEIR POTENTIALLY DISRUPTIVE IMPACTS

NEED TO BE MONITORED AND MITIGATED BY THE

FITZROVIA PARTNERSHIP IN COLLABORATION

WITH THE STATUTORY AUTHORITIES.

8Transport on Tottenham Court Road

Warren StreetStation

Goodge StreetStation

Tottenham CourtRoad Station

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HA

M C

OU

RT

RO

AD

Warren StreetStation

Goodge StreetStation

Tottenham CourtRoad Station

The one-way system will be replaced with two-way streets, some protected cycle lanes and new public space. The scheme will reduce congestion and pollution, widen pavements and make bus journeys quicker. It involves significant innovation, and will, for example, allow freight access and taxi access only at certain times to help transform the streets during the main working day when pedestrian and cycling numbers are highest. The project was developed to cope with the new pedestrian demand that will result from the new Crossrail service, and has also taken advantage of the traffic reduction in the area from the redevelopment of Tottenham Court Road station.

The project and its development has involved input and investment from a wide number of stakeholders, which will support the delivery of this ambitious scheme and its associated benefits.

Blue: General traffic routes.Red: Restricted to buses and cycles only on

Tottenham Court Road.

Source: Camden Council

The following changes are planned:

Conversion of the one-way system into a two-way tree-lined street for buses and cyclists only (from 8am–7pm, Monday to Saturday).

Vehicle routes will change.

Local access for cars, taxis and loading on short sections of Tottenham Court Road via side roads.

Changes to bus routes.

Reroute southbound bus routes from Gower Street to Tottenham Court Road.

Reroute some northbound buses via Earnshaw Street instead of using St Giles High Street following its closure underneath Centre Point to create the new public space.

Some bus stops and bus stands will move from Earnshaw Street and Great Russell Street.

An extra 15 streets made two-way for cycling.

‘Protected’ cycle lanes on Gower Street/Bloomsbury Street and Shaftesbury Avenue.

Improvements to established cycle routes on Tottenham Court Road.

Some new raised road surfaces to pavement levels.

Safer junctions including removing conflicts between cycling and vehicles on Tottenham Court Road at the junction with Euston Road.

New cycle parking.

Wider pavements.

Pedestrian crossings (significant changes in the New Oxford Street area and intersection between Oxford Street and Tottenham Court Road).

Planting of new trees across the project area.

A new park at Alfred Place.

Improvements to Whitfield Gardens.

Improved lighting.

These plans were developed as part of the consultation phase and may be adapted slightly throughout the design process.

WEST END PROJECT

TOTTENHAM COURT ROAD TWO-WAY

The West End Project is the name for Camden Council’s strategy for improving the Tottenham Court Road and Gower Street area in anticipation of, and to support the full opening of Crossrail. In partnership with TfL and others, significant financial investment has been allocated to increase the amount of public space, reconfigure traffic and bus services and generally improve the safety and attractiveness of the area.

The proposals will deliver a radical transformation of the Tottenham Court Road area, making it safer and more attractive for residents and visitors, creating new public spaces and providing high quality public realm to attract and sustain business.

Proposed changes for traffic

11Artist impression, Tottenham Court Road

CROSSRAIL

Crossrail is a 118-kilometre (73-mile) railway line under development in London. The central section and a large portion of the line, between Paddington in central London and Abbey Wood in the south-east, are due to open in December 2018; at that time the service will be named the Elizabeth line. The western section beyond Paddington, to Reading in Berkshire and Heathrow Airport, is due to enter operation in December 2019, completing the new East-West route across Greater London.

Partial services are due to commence in December 2018 with full operations commencing a year later. Tottenham Court Road is being redeveloped to provide for a much larger Underground station.

The Tube station upgrade includes:

New entrances and a public plaza outside the Centre Point tower

Additional escalators

New access to the Northern and Central Line platforms to reduce congestion

New ‘Art on the Underground’ installations

Provision for a new theatre above ground

IMPACT

There will be at least a 22% increase in the number of people within a 45 minute travel time which will substantially increase the employment catchment area.

By 2026 between 200,000 and 300,000 passengers a day could be using the station. This compares to around 87,000 who were using the station in 2013.

Increases in property values associated with redevelopment have already been reported.

GVA have estimated more than £5.5bn increase in property value along the overall route.

Source: Crossrail property impact study, 2012. Prepared by GVA

From TCR to Current With Crossrail

Abbey Wood 50 24

Canary Wharf 21 12

Heathrow 1-3 40 30

JOURNEY TIMES

Artist impression, Tottenham Court Road station entrance12

HS2 CONSTRUCTION/EUSTON STATION REDEVELOPMENT – 2017 TO 2033

High Speed 2 (HS2) is a new high speed railway line connecting London with major cities in the North of the UK. Euston has been chosen as the station where HS2 trains begin and terminate their journeys. To support this, Euston Station will be reconfigured with the addition of 11 new platforms. Ultimately up to 18 trains an hour will serve locations such as Birmingham, Leeds, Manchester and beyond.

OXFORD STREET ‘PEDESTRIANISATION’ TO 2019 AND BEYOND

Oxford Street is one of the busiest but also most polluted and accident prone streets in London. At present it is a major route for buses and taxis (private vehicles are banned from 7am to 7pm along part of its length except Sundays). Around 270 buses travel along the street every hour and 15,000 taxi passengers are picked up, dropped off, or transported down Oxford Street every day.

The July 2016 announcement by Val Shawcross – Sadiq Khan’s Deputy Mayor for Transport – regarding plans for the proposed pedestrianisation of Oxford Street, will lead to major changes in movement flows on Oxford Street. Depending on the option that is finally adopted, there could also be significant impacts on adjacent streets and in surrounding neighbourhoods such as Marylebone, Mayfair and Fitzrovia. Pedestrianisation of some sort is planned at the eastern end from Tottenham Court Road to Oxford Circus, along with the western section towards Marble Arch.

IMPACT

Changes to bus routes are currently in consultation, others anticipated to follow – more traffic congestion may be experienced in Fitzrovia depending on if they are diverted along Mortimer Street/Goodge Street. Between 40.8% of bus routes are scheduled for diversion from Oxford Street.

Pedestrianisation may lead to increased footfall into Fitzrovia. This could have a positive effect on the neighbourhood’s businesses as long as wider effects are managed carefully.

A properly thought through reduction in bus and taxi traffic on Oxford Street has the potential to reduce air pollution along Oxford Street, Fitzrovia and its hinterland.

Euston redevelopment planSource: Euston Area Plan

IMPACT

Whilst not located within the Fitzrovia area, redevelopment work at Euston has the potential to affect the neighbourhood. For example, there will be an estimated 700 daily lorry trips expected in and out of Camden until 2033 (HS2 phase 2 opening). There is also likely to be large scale disruption to the Euston Road (eastbound) as part of the carriageway is required to facilitate the construction process.

Once open, it is estimated that there could be an increase in peak morning arrivals – from 24,000 (2013) to 36,000 (by 2030). Of these around 7,000 are expected to arrive on HS2 services, with the rest of the increase reflecting background growth in rail demand that will happen anyway. By 2041, 56,000 arrivals are anticipated, including 25,000 expected to arrive on HS2 services.

Oxford Street14 15

WEST END PARTNERSHIPTHE WEST END IS THE DRIVER OF LONDON’S COMMERCIAL AND ECONOMIC SUCCESS AND LIES AT THE HEART OF ITS CULTURAL OFFER. IT IS ALSO HOME TO LONG-ESTABLISHED AND NEW COMMUNITIES, BRINGING FAMILY AND NEIGHBOURHOOD LIFE TO THE HEART OF LONDON. THE WEST END FACES BOTH CHALLENGES AND OPPORTUNITIES TO GROW IN WAYS THAT ENHANCE THE EXPERIENCE OF THOSE WHO LIVE AND WORK HERE, AS WELL AS THOSE WHO VISIT.

The West End Partnership was created in 2013 following the report of the West End Commission. The Commission called for a new strategic body to help shape and support the plans and policies needed to secure the stewardship and long-term future of the West End. The Partnership was created as a result.

The Partnership has a remit to enhance the area’s unique combination of diverse businesses and cultural attractions which, when combined with a sizeable residential population, create buzz, vitality, interest, investment and demand.

Working together, the Partnership provides the ‘voice’ of the West End. As the demands on the management of the West End intensify we will have to collaborate more closely than ever if expectations of liveability, the need to respond to growth and competition, and the changing patterns of retailing, business, culture, and lifestyle are to be met.

VISION

To support London’s competitiveness, the West End must accommodate growth whilst at the same time strengthening its unique cultural character, amenity and openness.

Maintaining growth and cultural character are twin goals. The West End Partnership believes they are compatible and deliverable. This is why the West End Partnership was formed – to be the catalyst and mechanism for action and delivery, with new policies, plans and actions.

But as London grows, the demands on the management of the West End intensify. Stakeholders in the West End will have to collaborate more closely than ever if reasonable expectations of liveability, the need to respond to growth and competition, and the imperative to enable changing patterns of retail, business, culture and lifestyle are to be met.

The West End Partnership has established a set of principles to unify the purpose and plans of many voices and partners.

The vision is that over the next 15 years the West End will be:

1. Vibrant, productive, resilient, creative and surprising

2. Playing a pivotal role in London’s continued economic success

3. Providing new jobs and skills opportunities

4. Easy to reach, with less congestion and better air quality

5. Safe and secure as well as open and relaxed

6. Renowned for the quality, interest and extent of its public spaces, helping to differentiate London from other world cities

7. Inspiring a sense of common purpose

8. More self-reliant

The Delivery Plan represents a substantial investment programme of up to £500 million by 2030 and seeks staged improvements across all aspects of the West End over the Plan’s period.

Oxford Circus

CROSSRAIL 2

Crossrail 2 is a proposed new railway serving London and the wider South-East. It would connect the National Rail networks in Surrey and Hertfordshire via new tunnels and stations between Wimbledon, Tottenham Hale and New Southgate, linking in with London Underground, London Overground, Crossrail 1, national and international rail services. It will add capacity to the regional rail network, cutting journey times across the South-East. It is designed to provide the infrastructure needed to support 200,000 new homes and 200,000 new jobs largely in London.

At the very centre of Crossrail 2’s proposed route is Tottenham Court Road Station. Tottenham Court Road is where Crossrail 1 and 2 would intersect.

IMPACT

Crossrail 2 has the potential to drive local property values, footfall increases and the general accessibility of the Tottenham Court Road area in a similar manner to Crossrail 1. For example, it is anticipated there will be:

Improved journey times for workers and visitors coming to the area. A journey between Tottenham Court Road and Clapham Junction would be reduced by approximately 15 minutes.

Increased connectivity and consumers for local businesses; up to 30 Crossrail 2 trains per hour.

A 30% decrease in crowding on the Northern line during peak hours.

Eased pedestrian flows at street level through the provision of a southern entrance on Shaftesbury Avenue.

Crossrail 2 construction plan

Source: TfL Consultation

KEYProposed worksites

Crossrail 2 underground tunnels

Crossrail 2 platforms

Key local buildings

New station entrancesExit and committedstation entrances

Station shaft

Central line

Nothern line

Crossrail 1

CentrePoint

DominionTheatre

TheBloomsburyHotel

Barbados HighCommission

Primark

St. Giles Hotel

Central St. Giles

St. Giles-inThe-Fields Church

The Borderline

St. Patrick’sChurch

Soho NHSWalk-in Center

PrinceEdwardTheatre Ronnie

Scott’s

PalaceTheatre Curzon

Cinema

WestminsterKingswayCollege

The SohoHotel

Great Chapel St.MedicalCentre

FrenchProtestantChurch

SohoTheatre

St. Anne’sChurch

BloomsburyCentralBaptistChurch

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PROPERTY DEVELOPMENTTHE BUILT ENVIRONMENT IN FITZROVIA IS

EVOLVING, WITH COMMERCIAL, RETAIL,

MIXED-USE, RESIDENTIAL AND COMMUNITY

SPACES BEING REDEVELOPED AND RENEWED

AT A CONSIDERABLE PACE. MITIGATING THE

IMPACT OF CONSTRUCTION AND RENEWAL IS

KEY TO MAINTAINING QUALITY OF LIFE FOR

BUSINESSES AND RESIDENTS. AS FITZROVIA

CHANGES AND GROWS, IT NEEDS TO REMAIN

LIVEABLE AND WELCOMING.

COMMERCIAL AND RETAIL DEVELOPMENT

Developments map

Source: Arup, GLA London Development Database, accessed 30 November 2016

There are a number of commercial and mixed-use developments coming forward/already underway in the Fitzrovia area (or in very close proximity to it). These include the following:

The Saatchi Block (80 Charlotte Street) – 323,000 sq ft of offices and 14,000 sq ft of residential space. With the creation of additional floor space alongside existing redeveloped office space and creation of new public open space and flexible ground and lower floor levels, this development also has plans for 19 residential units.

96 Tottenham Court Road (more than 5,000 sq ft) the Heal’s building – a proposed redevelopment involves a change of use of part of the 2nd floor from A1 (Retail) to B1a (Office).

251–258 Tottenham Court Road (c.100,000 sq ft) – erection of an eight-storey building (underway). This will include Class A1 at basement level and Class B1 office use at ground to seventh floor levels. This development is nearing completion.

B1c, B2, B8 developments – seven other B1 office developments will come forward close to the Area.

20 21Pearson Square

IMPACT

Businesses and residents can sometimes be affected by the impacts of construction, including noise and amenity impacts, as well as increased traffic and poorer air quality.

Fitzrovia has historically been home to a number of sector ‘clusters’. These include architecture and building engineering and design, advertising and media, as well as health services. A number of these may be dissipated as rental pressures in the neighbourhood increase, along with a lack of suitable office accommodation.

RESIDENTIAL AND COMMUNITY DEVELOPMENTS

There are currently around 4,200 residents in Fitzrovia living in 1,500 households. This population is expected to increase by 13.7% over the next 10 years.

There are a number of residential units coming forward as part of mixed-use developments.

87–89 Cleveland Street – the demolition of existing buildings and redevelopment to provide three blocks separated by landscaped areas. Up to 105 residential plus retail, food and beverage units and a petrol station will be built.

50–57 Newman Street – the conversion of four floors of office space and the addition of a fifth to provide 23 residential units.

40–42 Newman Street – use of five floors for 12 flats, including cycle and waste storage in the basement level.

29 Rathbone Place – the erection of a roof extension, rear extension and other works to provide additional units. The overall mix will be five studio apartments, four 1-bed flats, and five 2-bed flats.

THERE ARE ALSO A NUMBER OF COMMUNITY, HEALTH AND EDUCATION DEVELOPMENTS

Grafton Way – redevelopment of a former Odeon cinema into the NHS Proton Beam Therapy cancer treatment facility.

Huntley Street – a new facility for Eastman Dental and Royal National Throat Nose and Ear Hospitals.

Torrington Place – change of use from offices to dual use as offices and educational use.

Capper Street – erection of a six storey building and excavation works to create a head and neck outpatient hospital following demolition of two university buildings.

Astor College – Charlotte Street – an increase in capacity to house 295 students (up from 235) plus provision of outdoor leisure space and the opening up of Bedford Passage.

ST GILES TO 2020

St Giles is a growing quarter at the intersection of Tottenham Court Road and Oxford Street. The St Giles development includes redevelopment of the Centre Point building itself, which is being comprehensively refurbished to provide 82 residential units, 42,000 sq ft of retail and a new public square as part of an improved environment at street level. St Giles also aims at encouraging pedestrian movement and fostering a sense of place and connectivity directly to Covent Garden at the south-east of the Opportunity Area.

Other recent development in the area include:

400,000 sq ft of new retail lettings.

830,000 sq ft of space acquired since 2000 for Media & Tech businesses.

60,000 sq ft of new and refurbished places to eat and drink.

22 23Artist impression, St Giles Artist impression, UCLH Grafton Way

IMPACT

Overall, the St Giles scheme will have the effect of raising the value and quality of space and place beyond and within the Fitzrovia area. Recent developments in the area have generated:

c.75% annual increase in prime retail rents between 2012 and 2015.

£343m office investment volumes in 2015.

+6.6% annual shopper footfall to 54.3m in 2015 compared to 2014.

The St Giles strategy complements ‘Fitzrovia south’ – the area at the southern end of Charlotte Street, as an established restaurant destination with its independents and higher end retailers often occupying small units.

IMPACT

Expansion in the number of residential units for a range of occupiers is likely to have a beneficial effect on businesses in the Fitzrovia area. Their presence increases footfall and expenditure levels in local shops, bars and restaurants. Expansion also increases the potential for more people to live and work locally.

BUSINESS RATE REVALUATIONTHE RECENT REVALUATION OF BUSINESS RATES

HAS WITNESSED AN AVERAGE INCREASE WITHIN

THE FITZROVIA PARTNERSHIP DISTRICT OF 23%.

THERE IS A CONTINUING NEED TO TRY AND

MITIGATE THE IMPACT OF THE REVALUATION AND

FOR THE FITZROVIA PARTNERSHIP TO WORK

WITH OTHERS TO SECURE LONG TERM REFORM

OF THE SYSTEM.

Business rates have been reset and rebased by central government. This has led to a significant increase in business rate bills for many of Fitzrovia’s businesses. Typical rents are now between £72.50 and £90 per sq ft per annum having risen by up to 13% since Q2 2015. Business rates have increased from £26 per sq ft to £37 per sq ft.

IMPACT

Because business rates are a tax on the value of commercial property rather than on the productive capacity or profitability of a business per se, a steep increase in rents can significantly hurt the profitability of existing users. The impact of the revaluation on Fitzrovia (and many other parts of London) has been made worse by the government’s decision to delay the revaluation; it is seven years since the last review.

Whilst some small businesses may be eligible for small business rate relief, larger occupiers of high-value property in central London have been particularly hard hit.

Fitzroy PlaceBusinesses on Tottenham Court Road24

CONCLUSIONS IN THIS REPORT THE FITZROVIA PARTNERSHIP

HAS IDENTIFIED SOME OF THE MAJOR CHANGES

THAT ARE HAPPENING IN AND AROUND FITZROVIA.

IT IS PROBABLY NO EXAGGERATION TO SAY THAT

THESE REPRESENT THE MOST SIGNIFICANT

DEVELOPMENTS TO THE NEIGHBOURHOOD SINCE

THE 1960S WHEN THE POST OFFICE TOWER WAS

CONSTRUCTED, THE VICTORIA LINE WAS BEING BUILT

AND HOUSING WAS EITHER BEING COMPULSORILY

PURCHASED OR COMMISSIONED BY CAMDEN AND

WESTMINSTER. FITZROVIA WAS ALSO THREATENED

WITH MAJOR ROAD BUILDING SCHEMES.

Until the 1980s, Fitzrovia was perhaps largely detached from the more prosperous and in some cases busy areas adjacent to it such as the ‘core’ (retail) West End, Mayfair and Marylebone. In the last ten to fifteen years this level of detachment has diminished. Fitzrovia has experienced rising asset prices and some gentrification. It has become an alternative for even more expensive neighbourhoods to the west of the district. Fitzrovia’s restaurants and bars have become destinations in their own right. The retail ‘offer’ on Tottenham Court Road has arguably become more focused on a central London target market rather than one aimed at meeting the day-to-day needs of a residential clientele and office workers.

Population growth in London that began in the mid-1980s has been reflected in Fitzrovia’s own population numbers. This upward trend is anticipated to continue. Historical population growth has been accompanied by an increase in generally more expensive residential property stock; much of it either recently constructed (Fitzroy Place) or in the form of conversions; many of which are nearing completion (Newman Street and Centre Point are examples).

Alongside this change in residential structure has come significant redevelopment of non-residential space into new offices (the old Rathbone Place Royal Mail sorting office is one example). As older office stock from the 1960s and 1970s reaches the end of its life, a number of major sites have either been slated for demolition and redevelopment (such as the Saatchi building) or been subject to extensive face lifting and refurbishment.

Rising rents, due in part to constraints on supply (a key feature of the Westminster office market) combined with rising employment in London, plus the advent of Crossrail, have fuelled the increase in asset prices experienced in the neighbourhood.

Notwithstanding the impact of Britain leaving the European Union, the upward trend in rental values coupled as it is to demand for new, modern office space close to good transport connections – is set to continue. Similarly there is no sign that residential numbers are dwindling although the affect of stamp duty changes on overseas investors’ appetite to buy in the area and the impact of Brexit on net immigration numbers can by no means be discounted.

Added to these changes – and by no means decoupled from them – is major change to public transport services that serve Fitzrovia – particularly Crossrail. In just a few years’ time, the combination of a major new station at Tottenham Court Road alongside expansion to the Underground facility has the potential to release millions more workers and visitors onto the streets of the

neighbourhood and its surrounding area. Looking further ahead, High Speed 2 will have a similar impact at Euston. And subject to it being built, Crossrail 2 will add further connectivity and no doubt more passenger demand.

Taken together, the combination of rising residential numbers, residential units, commercial development and major new rail infrastructure represent a wave of growth and change that (even if it was a desirable thing to try and prevent) is not possible to stop. Alongside the

26 27

Pearson Square

Fitzroy Place

economic benefits they bring, they will inevitably heap pressure onto Fitzrovia’s public realm and public services. Ensuring the upkeep of streets, open spaces and other public amenities presents a major challenge to the borough, its other public service providers and The Fitzrovia Partnership. These are in addition to the impacts of project construction and delivery that can take years to reach completion. And all at a time when local authorities including Camden are facing continued real term reduction in their resources.

It is on this basis that The Fitzrovia Partnership should focus its efforts on mitigating the least desirable effects of growth but supporting and facilitating investment that is designed to improve matters.

It should also not shy away from being in favour of some development. This will be crucial to reduce the pressure on rents for existing and often smaller businesses. The FItzrovia Partnership is already active in a range of areas across the neighbourhood.

The Fitzrovia Partnership, 13 Fitzroy Street, London, W1T 4BQ. Telephone: 020 7755 3192. Email: info@fitzroviapartnership.com. The figures contained within this publication are correct as of May 2017. The Fitzrovia Partnership does not accept any liability for any information contained within this publication which may be incorrect. This publication cannot be reproduced, copied, or distributed in any format without the express permission in writing from The Fitzrovia Partnership. Copyright May 2017.

13 Fitzroy Street, London, W1T 4BQ

T 020 7755 3192E info@fitzroviapartnership.comW fitzroviapartnership.comTW @fitzpartnership