A new strategic partnership has been forged between Network Rail Property, Places for London, and the London Borough of Lambeth, setting the stage for a significant regeneration of Waterloo Station and its surrounding South Bank neighbourhood.
This collaboration follows last year’s Waterloo Station Vision, which outlined long-term aspirations for both the station and the wider area. London Waterloo, currently the fourth busiest station in Great Britain, is a vital transport hub situated next to the vibrant cultural epicentre of the South Bank. This area is home to major institutions including St Thomas’s Hospital, The Old Vic, Southbank Centre, and BFI Southbank, necessitating a station that can effectively serve and connect a growing workforce, as well as increasing numbers of tourists and leisure visitors.
The newly formed partnership will explore opportunities to create a new station destination, aiming to enhance the customer experience within and around the station environment. This initiative forms an integral part of a broader regeneration plan for the area. Working closely with key stakeholders and the local community, future developments will focus on improving wider permeability, creating iconic open spaces, and bringing forward a diverse range of development and investment opportunities.
These ambitious plans will be implemented in phases, with collaboration between both private and public sector partners.
Leaders Welcome Collaborative Vision
Robin Dobson, Group Property Director, Network Rail, expressed his enthusiasm for the project: “This is a great step forward in combining both our resources and assets across Waterloo and South Bank. We will work with neighbouring partners to deliver a regeneration plan that unlocks huge growth and investment opportunities across the Borough, delivering the widest mix of uses and something very special for this important part of London for future generations to come.”
Graeme Craig, Director and Chief Executive, Places for London (Transport for London’s wholly owned property company), added: “Millions of people pass through Waterloo every year to work and explore the South Bank and beyond. Through this new collaboration, we can ensure those customers are getting the very best London has to offer as they travel through this historic transport hub. This a great opportunity for Places for London to work with Network Rail and the London Borough of Lambeth to provide a new and improved vision for the community and all who come to Waterloo.”
Cllr Claire Holland, the Leader of Lambeth Council, also welcomed the partnership: “We are delighted to be joining Network Rail and Places for London in committing to this significant investment in Lambeth, and we look forward to working with them to progress this project.”
She further stated: “The collaboration agreement we’ve signed paves the way for a transformation of both Waterloo station and the surrounding neighbourhood. As a council we are keenly focussed on growth opportunities that benefit Lambeth residents. This project significantly supports that aim by creating job opportunities, attracting more businesses to the area and will also see new homes built. We now look forward to working closely with local business groups, the South Bank’s world class arts centres, universities and hospitals in the area to ensure the scheme really delivers for Lambeth.”
