TfL looks for investment partners to take up office space at Bank, Southwark and Paddington stations
Transport for London is looking for an investment partner to work on commercial developments at the sites of Bank, Paddington and Southwark stations.
In a bid to reduce its reliance on fares for income, TFL is looking to offer commercial office space at the stations which could generate significant revenue.
All three sites have either received planning consent or resolution to grant such permission, and promote sustainable travel with 900 cycle spaces between them – and access to the tube network.
TFL said the over-station buildings, when completed, would have a potential combined value of more than £1bn.
The Bank over-station eight-storey development is located above the new Cannon Street entrance, and includes a basement, office and retail space as well as a green roof.
Paddington, which is also connected to the almost-open Elizabeth Line, is a 19-storey building measuring around 235,000 sq. ft, and will include a canal-side reception.
Finally, the Southwark development – near the Underground station on the Jubilee line, is a 17-storey hybrid timber building, due to be one of the most sustainable large-scale commercial buildings in Britain, providing a mixture of commercial office space.
“We are delighted to be going to the property industry with this exciting opportunity and are looking for a partner to create best in class commercial office workspaces that will positively transform the capital and support its green recovery”, said head of property development at TfL, Scott Anderson.
He said it is part of TfL’s wider development programme, spanning the building of thousands of new homes on its land, including “50 per cent affordable housing on average across its entire portfolio.
TFL said it has more than 1,700 homes under construction, with work beginning this year on 12 sites to deliver 2,00 homes.