Delivering Our New West End 2020 Business Strategy DELIVERY PLANS 2019/20 & 2020/21

SEPTEMBER 2019 – EXTERNAL

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New West End Company is a global business partnership

of 600 retail, restaurant, hotel and property owners across

74 streets in the world’s top shopping and leisure destination

anchored by Bond Street, Oxford Street and Regent Street

representing 150,000 employees.

We work in partnership delivering transformational projects,

sustainable place management, destination marketing,

advocacy, inward investment and commercial insights.

We are an influential business voice, active in our wider

community and a key partner in delivering a new West End.

www.newwestend.com

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2020 Business Strategy - Time For Action

This document sets out our refreshed 2020 strategy

for the remainder of this current BID term. It outlines

our business priorities and delivery programme set

against our updated performance targets and has

been endorsed by 20% of members through our

Steering Groups and Board of Directors; reflecting

members’ priorities and commitments in our

mandated business plans.

We are facing challenging trading conditions and unprecedented economic and political change and in response, we have agreed with our Chairman and Board, a series of policy and practical initiatives to prioritise our resources and focus over the next period.

International Centre SummitsNew West End Company will be holding a series of Summits with the Government, Mayor of London and Westminster City Council, alongside our member businesses – to recognise the importance of the West End as an International Centre to the future prosperity of London and the UK. Faced with structural changes to retailing, falling customer confidence, rising costs – particularly business rates – and delays in both Crossrail and the Oxford Street District transformation, the West End needs Government, at all levels, to work in partnership with us to secure our future success. At our International Centre Summits in the spring, we will be calling for Government to:

Add the International Centres to the exemptions in the 1994 Sunday Trading Act.

Take actions to mitigate the impact of Business Rates rises which could include a freeze on supplementary rates for the Elizabeth line until the service in delivered.

Digitalise tax free shopping and extend it to EU visitors following Brexit (worth an estimated £1.4bn of additional spend).

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2020 Business Strategy - Time For Action

UK Domestic Marketing In addition, we have successfully lobbied the Mayor of London to invest in domestic marketing campaigns and use London & Partners – his agency which promotes London internationally – to work in partnership with us and major West End partners (The Crown Estate, Grosvenor, Shaftesbury plc, and Heart of London Business Alliance) to target domestic UK visitors and bring them to the West End and Mayfair through ‘always on’ channels and a number of major campaigns a year.

3D Programme of Member Services Alongside our International Centre Deal, we are also implementing our 3D programme for London’s West End & Mayfair:

Data: the launch of our world-first consumer analysis services in partnership with PwC.

Digital: rolling-out free customer WiFi throughout our District with ‘always on’ customer channels.

Delivery: the start of the £150m Oxford Street District transformation programme and improved customer service to our members .

Our regular perception audits, consumer, member and staff surveys, inform our plans and benchmarks our on-going performance commercially, socially and sustainably. A priority for our business is ensuring we have the skills, processes and corporate culture that is fit for purpose. This focus will enable us to plan better, prioritise highest value activity, to collaborate to greatest effect internally and to partner externally in order to scale our work.

Elizabeth Line Opportunity The physical landscape of the West End has already seen great change ahead of the opening of the Elizabeth line, but now delayed to at least 2020. This is having a significant impact on trade and business confidence in the short-term. The £10m public realm development scheme on Bond Street is almost complete and the £15m transformation to Hanover Square is now taking shape.

We continue to engage the Mayor, Westminster City Council and Transport for London to deliver a collaborative vision for the Oxford Street District Transformation with an end-to-end approach, including improvements to Oxford Circus, Marble Arch and Regent Street that reflects the needs of businesses. Over the next few years, we will continue to work on our members’ behalf to maximise the Elizabeth line through:

Advocating for growth enabling policies to the West End’s regulatory and trading environment

Leading the business representation for the delivery of transformational projects across the district including reducing traffic and improving air quality

Delivering world class street management services which maintain a clean and safe environment throughout the increase in visitor numbers

Providing access to new data and insights for a deeper understanding of existing and new customers district wide and from our key global markets

Building commercial partnerships to deliver marketing campaigns and content which drives additional footfall, increases dwell time and enhances our global destination profile

Moving Forward 2020 & Beyond Collaboration is our core strength; we bridge the gap between our businesses, property owners, investors and the public sector, to deliver with tangible results. Results on our progress will be reported to the Board, Street Management and Property Groups on a quarterly basis, as well as at our annual members’ receptions, AGM and our regular member updates.

It is a real privilege to be the strong and unified business voice for our area. Although we are facing many challenges that need to be addressed urgently by both our policy makers and the business community, there are huge opportunities ahead in the next decade and I am a firm believer with the Board and our full team, that we are an enterprising and resilient community and that we have a bright future ahead of us as your business collective.

We move forward together to positively address our future with a global outlook and local delivery. Thank you for your on-going support for our shared aims and aspirations for London’s West End & Mayfair.

Yours in partnership

Jace TyrrellCHIEF EXECUTIVE

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2020 Strategy – Context We Operate In Has Changed

Brexit: Uncertainty in the short-to-medium term and potential reputational damage longer-term.

Security: The current security level and past incidents, raises fears around London’s safety and has implications for domestic and overseas visitors and security around our major events.

Politics & Populism: London’s values of tolerance and progress may not resonate as effectively in certain markets. ‘Resident’s First’ approach impacts public policy locally.

Policy: Mayoral administration new policy goals including focus on London wide distribution, inclusion and culture. City Council emerging policy for economic development in Central London. Government is focussed on UK wide productivity and Brexit.

Costs: Increasing business costs on occupiers, including property taxes, levies and wages, resulting in less capital investment and pressure on operating profits.

Supply Constraints: West End faces supply constraints; lack of full funding for transformational schemes, limited new office stock and digital & energy infrastructure fit for a global city.

Digital Disruption: Dramatic and accelerating changes to retail and real estate sectors and the way people receive information, form and share opinions and make decisions; consumer, investors, policy makers.

Integrated Model: Federal Street Association model to central model, bringing different business structures together. Clear focus now on core BID funders and SLA’s being adopted with major property companies.

Global & Local Competition: Rapidly growing competition from other cities in emerging markets and established centres, with more resources to invest in promoting their cities to attract investment and visitors. Improved regional shopping & leisure offer at our four key compass points; scale surpasses current West End standards and investment levels.

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One Vision To make London’s West End & Mayfair the world’s first choice for visitors, businesses and investors.

Our Prime Purpose To attract consumers to our district, to keep them here longer and to draw them back again.

Our Mission To deliver – directly and with partners – our shared vision, award winning services and a measurable return on investment to our customers (members).

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Our Strategic Objectives To secure the West End & Mayfair’s future as the world’s

number one retail and leisure district;

To be an effective champion and influencer of policies that deliver economic growth;

To be an authoritative global voice on London’s West End & Mayfair;

To evidence our impact over time through increased spend and enhanced values.

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Our 2020 Strategy: 5 Key Services

Advocacy & Engagement AN INFLUENTIAL, AUTHORITATIVE BUSINESS VOICE

1. Champion the West End & Mayfair’s international retail & leisure sector to all levels of Government, advocating for policies that create jobs and promote long-term good economic growth.

2. Lead and participate in campaigns that drive global competitiveness and prosperity; funding for public realm schemes, business rates reform, extended Sunday trading hours and removing barriers to tourism spend.

3. Maximise local community support for policy changes to improve commercial performance.

4. Promote our District to occupiers and investors, enhancing our area’s reputation and promoting investment opportunities globally.

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Our 2020 Strategy: 5 Key Services

Marketing & Commercial ATTRACTING LOCAL & GLOBAL CUSTOMERS, BUILDING DESTINATION LOYALTY

5. Implement an integrated destination marketing, events, tourism, loyalty and commercial revenue plan.

Insights & Performance ROBUST TRADING DATA AND DISTRICT WIDE METRICS

6. Evidence our impact over time and provide members and partners with quality trading insights, definitive assessment of the West End visitor, benchmarked globally and measure our overall ROI.

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Our 2020 Strategy: 5 Key Services

Management & Security IMPROVED STREET ENVIRONMENT, RESILIENT BUSINESSES

7. Deliver with our partners world quality street management, security and enforcement services along with holding public authorities to account to deliver management and maintenance contracts to a higher standard.

8. Execute with Westminster City Council improved, first class city cleansing.

9. Provide a West End wide business resilience forum addressing preparation, training and major incident response plans.

10. Manage with partners, a robust plan for tackling homelessness across our District.

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Our 2020 Strategy: 5 Key Services

Placemaking & Infrastructure MAXIMISING THE ELIZABETH LINE OPPORTUNITY

11. Reduce commercial traffic and improve air quality by supporting sustainable travel, reduced deliveries and waste consolidation.

12. Improve our ‘Places and People’ through delivering and supporting public realm upgrades, including festive lighting, digital infrastructure, green and accessible spaces and being a key partner to West End employment schemes.

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Progress On Our 2020 Targets

1.

4.

2.

3.

2020 Target Results 3 Years (April 2019)

Member Satisfation & BID Renewal

£10m Additional Income

50% Reduction of Bus Traffic

£220m+ Transformation Schemes

73%

£8.5m

40%8%

Oxford Street West

Oxford Street East

25%28%

Regent Street

District Average

£10m Bond Street - 85% Complete: Full Delivery Summer 2020

£12.5mHanover Square - Funding Secured

£150m Oxford St Transformation Funding Secured (£200m Target)

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Progress On Our 2020 Targets

2020 Target Results 3 Years (April 2019)

£100m Media Coverage

£6m By Appointment

200 Businesses Chinese Payments

10,000 Local Customer Subscribers

Freight & Waste Consolidation Service District Wide

£64m

£3.1m

East Mayfair Programme Launched

200 New & Refurbished Premises (Retail, Hotel, Leisure)

132 Complete (85 New & 47 Refits)

2,000 Base Level

Base Audit Complete

Spend

5.

6.

7.

8.

9.

10.

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2020 Strategy – Core Programme Occupier BID

Marketing & Commercial ATTRACTING LOCAL & GLOBAL CUSTOMERS, BUILDING DESTINATION LOYALTY

Destination Marketing, Events & Sponsorship

West End Loyalty & Content

Tourism & By Appointment

Management & SecurityIMPROVED STREET ENVIRONMENT, RESILIENT BUSINESSES

Street Management, Security & Enforcement

Cleansing Services

Business Resilience & Planning

Rough Sleeping Strategy

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2020 Strategy – Core Programme Property BID

Advocacy & Engagement INFLUENTIAL, AUTHORITATIVE BUSINESS VOICE

Oxford Street District Vision Good Growth Policy (London & City Plans) Business Rates Sunday Trading Tax Free Shopping Tourism Investment & Visa Improvements Community Outreach Members & Commercial Partners Inward Investment & Global Profile

Placemaking & Infrastructure MAXIMISING THE ELIZABETH LINE OPPORTUNITY

Delivery of Oxford Street District £150m City Council Investment

Bond Street Transformation Hanover Square District Transformation New Green Spaces & Sustainable Hubs Infrastructure (Festive Lighting, Accessible Information, Footfall, Wifi) Vehicle Reduction & Consolidation West End Employment

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Core Programme Property & Occupier BID

Insights & Performance ROBUST TRADING DATA AND DISTRICT WIDE METRICS

Insights “Big Data” PwC

Measurements & Reporting

Financial & Company Management

People & Policies

BID Renewal 2020

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Governance Structure 2019 - 2021

NEW WEST END COMPANY

FINANCE & GOVERNANCE GROUP

BOND STREET & MAYFAIRMANAGEMENT GROUP

REGENT STREETMANAGEMENT GROUP

OXFORD STREETMANAGEMENT GROUPPROPERTY GROUP

PUBLIC REALM DELIVERY

ADVOCACY & PLACEMAKING PROGRAMMES

• Business Voice & Lobby• Business Development &

Inward Investment • Commercial Insights &

Engagement

MANAGEMENT & MARKETING PROGRAMMES

• Security & Enforcement • Cleansing Services • Business Resilience & Planning • Destination Campaigns,

Loyalty & Tourism• Trading Insights

STRATEGIC BOARD

As agreed by the Board October 2018

BOARD ADVISORY TASK & FINISH GROUPS

• BID Renewal• Oxford Street• Public Affairs• Occupier Steering

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Board Of Directors 2019Our Board Members

John BurnsChief Executive OfficerDerwent London PLC

Paul JacksonGeneral ManagerClaridge’s

Toby CourtauldChief ExecutiveGreat Portland Estates

Robbie Feather Chief ExecutiveFenwick

Peter HearseyExecutive Director, Legal & PropertyHouse of Fraser

Katherine RussellHead of Real Estate, Planning, Planning & Policy, Commercial Group Property & DevelopmentJohn Lewis Partnership

Anna Bond Portfolio DirectorLondon Estate, Grosvenor

Sacha BerendjiDirector of RetailMarks & Spencer

Paul LorraineUK General ManagerLongchamp

Sir Peter RogersChairmanNew West End Company

David Shaw OBEChairmanThe Pollen Estate

James CookseyDirector of Central LondonThe Crown Estate

Meave WallStore’s Director, Retail OperationsSelfridges & Co.

Barratt WestVice President and Managing Director, UK and IrelandTiffany & Co.

Manuel Criado-RomeroManaging DirectorPontegadea

Jace TyrrellChief ExecutiveNew West End Company

Manuel Criado-RomeroManaging DirectorPontegadea UK

David SilvermanDirector Derwent London plc

Hugh MilwardDirector of Corporate, Exteral & Legal Affairs Microsoft

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Bond Street & Mayfair Management Group

Bruce DundasChair, Bond Street & Mayfair Management Group

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Oxford Street Management Group

Gareth EighteenChair, Oxford Street Management Group

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Regent Street Management Group

Jenn RothschildChair, Regent Street Management Group

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Property Steering Group

James CookseyDirector of Central LondonThe Crown Estate

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Occupier Steering Group

Paul LorraineManaging Director UK & IrelandLongchamp

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Corporate Partners 2019

PROPERTY ASSOCIATE CORPORATE INSIGHTS

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Our District

The 74 Streets in the BID area, acknowledged as London’s retail and leisure heartland, are anchored by Bond Street, Oxford Street and Regent Street and include the hinterland areas of East Mayfair, North Mayfair and North Oxford Street.

Air Street (in part)

Albermarle Street

Argyll Street

Balderton Street

Barrett Street

Berners Street (in part)

Berwick Street (in part)

Binney Street

Bird Street

New Bond Street

Old Bond Street

Brewer Street (in part)

Brook Street

Brown Hart Gardens

Bruton Place

Bruton Street (in part)

Bryanstan Street (in part)

Burlington Gardens (in part)

Carlos Place

Cavendish Square

Clifford Street

Conduit Street

Cork Street

Davies Street

Dean Street (in part)

Dover Street (in part)

Duke Street (in part)

Eastcastle Street

Gees Court

Gilbert Street

Glasshouse Street (in part)

Great Castle Street

Great Marlborough Street

Great Portland Street (in part)

Great Titchfield Street (in part)

Grosvenor Square

Grosvenor Street

Hanover Square

Hanover Street

Hanway Street (in part)

Harewood Place

Heddon Street

Henrietta Place

Holles Street

James Street (in part)

Lancashire Court

Langham Place

Lumley Street

Maddox Street

Market Place

Mount Street

New Burlington Street

Newman Street (in part)

Noel Street

North Audley Street

Old Burlington Street

Orchard Street (in part)

Oxford Street

Picton Place

Princes Street

Rathbone Place (in part)

Regent Street

Savile Row

Sherwood Street (in part)

South Audley Street (in part)

South Molton Street

St. Christopher’s Place

Stratford Place

Swallow Street (in part)

Upper Brook Street (in part)

Vigo Street (in part)

Wardour Street (in part)

Wells Street (in part)

Wigmore Street (in part)

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Oxford Street District

Oxford Street District

Bond St & Mayfair District

Regent Street District

District Map

Jace TyrrellCHIEF EXECUTIVE

3rd FloorHeddon House149-151 Regent StreetLondon W1B 4JD

T +44 (0)20 7462 0680E jace.tyrrell@newwestend.com @jtwestend

www.newwestend.com

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