Agent Savills hired to help Transport for London build rental flats over tube stations

Transport for London is planning to build rental homes above tube stations.

It has hired Savills to find a joint-venture partner such as a developer or investment fund, and says it has identified ten possible sites where 3,000 flats could be built above tube stations, on car parks, or on vacant land.

The London Evening Standard reports that the move would create a long-term rental income stream for the transport body, which has a debt mountain of almost £1bn.

TfL would hope to start construction within three years.

The sites identified include Nine Elms, Woolwich, Hounslow West, Kennington and Wembley Park.

https://www.standard.co.uk/business/tfl-in-rental-flats-plan-with-homes-above-tube-stations-as-it-looks-to-raise-money-a3934831.html

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One Comment

  1. DarrelKwong43

    cannot believe it has taken this long

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