London’s retail industry has been dealt another blow with the delay in opening Crossrail’s Bond Street station. Transport for London (TfL) has announced that the new Elizabeth Line, an integral part of the city’s transport network, will begin operations in the coming months without the completion of the Bond Street station. This setback has been attributed to logistical challenges and the impact of the pandemic on construction progress.
The Elizabeth Line will run directly beneath Oxford Street, attracting millions of additional visitors to the busiest section of this renowned shopping destination. However, due to the extended construction timeline, the project’s main contractor was replaced in 2020. TfL has now confirmed that the opening of Bond Street station is no longer linked to the railway’s opening, and efforts are underway to determine the earliest possible date for the station’s inauguration.
Currently, passengers will have to transfer to the Underground or disembark at the new Tottenham Court Road station, situated at the opposite end of Oxford Street, as Bond Street station remains incomplete. Despite the Canary Wharf station nearing completion, no definite date has been set for the handover of Bond Street station to TfL.
Originally approved in 2007, Crossrail was initially scheduled to have its central section operational by 2018. However, the project’s costs have escalated from the initial estimate of £14.8 billion to nearly £19 billion. The delayed opening of Bond Street station, combined with the impact of the pandemic, has had a significant impact on footfall along Europe’s busiest shopping street. Numerous stores have been forced to close, including Topshop at Oxford Circus and the Next branch on the corner of Bond Street. Gap has also shut down its flagship store near the yet-to-open Bond Street station. However, Superdry’s takeover of the former Forever 21 flagship store in November 2021 has exceeded expectations, providing a glimmer of hope for the area.
The delay in opening Crossrail’s Bond Street station is a setback for London’s retail sector, which had eagerly anticipated the increased visitor numbers brought by the new transport link. As efforts are ongoing to address the remaining construction challenges, businesses on Oxford Street and Bond Street will need to adapt and navigate the changing retail landscape and consumer behavior. Despite the current obstacles, there is optimism that the opening of Bond Street station will eventually occur, restoring the vibrancy and vitality of this iconic shopping district.
Useful links:
1. Transport for London – Crossrail
2. Oxford Street website
