News Desk

Regents and Oxford Street will be "given back" to the public on 27 November in an attempt to boost consumer spending ahead of Christmas in an event that heralds the start of the Christmas shopping frenzy.

From 10am -6pm on 27 November 2010, the streets of London’s West End will be given back to the public, creating a shopper’s Christmas paradise for the sixth annual Shop West End VIP Day Brought To You By American Express. For one day only, Oxford Street and Regent Street will be completely traffic-free, so Very Important Pedestrians (VIP) will have free reign over 600 world class shops as the West End comes alive for the ultimate Christmas shopping experience.  

Jace Tyrell of the New West End Company said to the London Daily News:

“This year Shop West End VIP Day, Brought to you by American Express, is going to be the biggest shopping event of the year. Top retailers all over London’s West End have embraced the festive Christmas spirit and will be offering a variety of offers, in-store entertainment and demonstrations. Quite a few retailers have confirmed that they are going to offer ‘early bird promotions’ – so make sure you arrive early!”

With speculation that London may well weather a "double-dip" recession with strong consumer spending the "VIP Day" sponsored by American Express will allow families and millions of Londoners to lap up the offers available. American Express Cardmembers will be able to receive double rewards, from cash back to air miles, for all purchases made in the West End on Saturday 27 and Sunday 28 November. There will also be some great offers from West End retailers for Cardmembers including £50 off when you spend over £200 at Jaeger and 10% off at Divertimenti.  For those who want to make a weekend of it, The Thistle is offering a ‘Time for Shopping’ package from £99 per room per night when Cardmembers book with their American Express card.

In separate news the Norwegian government yesterday announced that 25% of Regent Street would be acquired by its  Norges Bank Investment Management purchased on behalf of Norway’s NKr3000bn (£320bn) government pension fund. The details of the deal which had been announced indicate that MBIM will acquire 25% of The Crown Estate share in Regent Street on a 150-year lease, valuing the London estate at approximately £1.8bn.