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7th November 2016
Today, having divested of HS1, LCR’s primary focus is in the area of property development and land regeneration. In London, LCR is a joint venture partner in the £2.4bn strategic development at International Quarter London in Stratford; in 2016 the organisation also sold its 36.5% share in the major regeneration programme at King’s Cross, for which it was a steward for almost two decades. In addition, LCR is working with the DfT and Network Rail to bring the Waterloo International Terminal back into use and is exploring the potential for transforming the arches at Leake Street into a new dining and leisure destination.
Nationally, LCR and HS2 have established the HS2 Growth Partnership to work with local authorities, in line with their local HS2 Growth Strategies, to bring forward development around stations on the proposed HS2 route.
LCR is involved in a number of high profile development projects, many of which are a result of LCR taking ownership of BRB (Residuary) Ltd properties in 2013. These include the regeneration of the 24-acre Mayfield Quarter in Manchester and a substantial refurbishment of one of Derby’s principal engineering employment centres, the RTC Business Park, which offers 430,000 sq ft of office and commercial accommodation.
About Waterloo International Terminal
Restoring the former Waterloo International Terminal (WIT) is the first phase of the wider Waterloo Masterplan, funded by Network Rail, to bring together the disjointed elements of the station to ensure it has the capacity to meet growing demand.
The project will enable domestic services to run from platforms 20-24; with modern facilities, new track and signalling and a layout suitable for thousands of domestic passengers. It also provides the opportunity to reuse substantial areas of WIT, which are not required for operational purposes, to provide new retail uses.
LCR’s planning application is for “Change of use of existing Waterloo International Terminal (WIT) to a mix of Class A1-A5 (retail) and Class D2 (assembly & leisure), along with the installation of mezzanine floorspace, external alterations, servicing and associated works.”
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