Piccadilly Circus is to be returned to its 1960 appearance in a £14m overhaul by Westminster City Council.

At a council meeting last night plans to remove the one way system and guard railings from the area, and devote more space to pedestrians, were announced.

The council has applied for £7m funds from Transport for London to pay for the changes as a part of its Major Schemes project.

The remaining £7m would come form the City Council and the Crown Estate, which is currently redeveloping the adjacent Quadrant.

Further funding will be provided by Fortnum & Mason.

Councillor Colin Barrow, Westminster City Council’s leader, said: “This is an iconic landmark and it deserves a setting all Londoners can be proud of and enjoy visiting.

“In 2012 our capital will capture the world’s attention and our plans to transform Piccadilly Circus and the surrounding area will ensure visitors are as impressed by the city’s streets and all they have to offer, as they are with the sporting talent many will have travelled so far to see.”

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