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2nd November 2016
LCR, the Department for Transport and Network Rail are bringing the former Eurostar terminal back into use after almost a decade. The plans will create 135,000 sq ft of space for an ambitious mix of independent, high street and food stores, spread across three floors, including a new mezzanine level. Several new western entrances will also be built to accommodate anticipated growth in passenger numbers on the routes serving Waterloo station in the next few decades.
The retail offer at Waterloo Station is intended to match the quality of St Pancras International and Birmingham New Street, to provide modern retail facilities for commuters and the Southbank and Lambeth communities. The development is also set to create circa. 700 new jobs, as well as hundreds more throughout the construction period, and to generate significant local investment.
The restoration of WIT will benefit the local area by creating improved links to Leake Street and Lower Marsh. The new facilities will also complement local businesses and the wider regeneration of the Southbank and Leake Street, where LCR and the Department for Transport are bringing old railway arches back into use next to the ‘Banksy graffiti tunnel’.
An extensive engagement programme with local communities, councillors and officers at Lambeth Council was undertaken on the proposals. A public consultation explaining the plans and seeking feedback was held between March and April 2016 and the responses demonstrated strong support for the project.
The restoration of WIT is part of the Wessex Capacity Improvement Programme at Waterloo, being delivered by Network Rail to provide the biggest increase in capacity for decades at the UK’s busiest station. Amongst other benefits, the project will enable domestic services to run from reopened platforms 20-24; with modern facilities, new track and signalling and a layout suitable for thousands of domestic passengers.
Cushman & Wakefield and Union Street Partners are acting as joint leasing agents for LCR.
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