Pedestrianised streets are good for business – so why doesn’t London have more?

But if that European culture feeling is something we all crave, why aren’t we creating more spaces to make it happen - especially when we know it’s good for business?

When Carnaby Street was pedestrianised back in 1973, they saw a 30% increase in the number of pedestrians entering the area. That was over 50 years ago. When will the rest of the city catch up?

It’s time to start supporting businesses by making our spaces more enjoyable and safe to be in.

New data commissioned by Tristan Capital Partners, behind the redevelopment of Sicilian Avenue, an iconic, Grade II listed pedestrianised street found in the heart of Bloomsbury, shows just how much people want pedestrianised streets, particularly for food and drink experiences.

In fact, visiting restaurants is the most popular reason to visit central London (39% of UK residents) – and 64% who visit central London restaurants say they do so on Saturdays.

Nearly three-quarters of London workers and business owners say they’re more likely to choose restaurants and cafes on traffic-free streets.

And 63% of UK residents say they are more likely to choose a restaurant or cafe on a pedestrianised street when visiting London for leisure.

Why? Because they’re just nicer. In fact, the most popular reason for choosing pedestrianised streets for business owners looking for a working lunch or meeting is they are calmer and serene – 53% of respondents agreed.

These calm, car-free zones draw in those working nearby as well as visitors, encourage longer dwell times, and make outdoor dining feel like a treat rather than a traffic-dodging exercise.

We see an increase in consumer spending at restaurants and cafes over the summer months, rising approximately £1.1 billion, a 3.3% rise April – September 2024 vs previous 6 months, so let’s make the most of it.

The trouble is pedestrianised streets in London are still few and far between - and we’ve seen the outrage that proposals have caused.

But customers want it as pedestrianisation attracts high quality options, and over half (52%) of respondents say they’re more likely to seek out high quality dining experiences now than in 2019, rising to 64% of Gen Z and Millennials.

While millennials are the most likely generation to care about quality of service (65%), boomers are most likely to care about quality of ingredients (66%) and Gen Z about portion size (46%).

So if the sun is shining, and we’re yearning for that European café culture with al fresco options, what’s stopping us from turning more streets into places where people actually want to spend time - and places where they will keep coming back to?

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Sophie Levenson is a Partner at Knight Frank

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