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A £3 billion transformation plan for Queensway that will see its parades of souvenir shops and fast food outlets swept away after decades as west London’s “ugly sister” is unveiled today.

Major landlords and developers who own more than 70 per cent of Bayswater’s high street have drawn up a vision that includes Parisian-style pavement pavilions, reduced traffic, major improvements to both its Tube stations, and a new entrance to Kensington Gardens, with twin gates.

Seven major new or refurbished buildings in Queensway, including an overhaul of department store Whiteleys, have provided the catalyst for a revamp of the street over the next four years.

Alex Michelin, co-founder of developers Finchatton, speaking on behalf of the Queensway steering committee, said he hoped it would become “a new Marylebone High Street” with independent food stores and boutiques replacing the current line-up of retailers and restaurants.