Funding boost for Northern Line extension
Dec 2012
Peter Kenyon, TunnelTalk
- The long-awaited Northern Line extension for the London Underground system received a significant sign of support with the UK Government's first clear financial commitment to the project. A loan guarantee of up to £1 billion will enable Transport for London (TfL), the owner of the network, to fund a 3km twin-tube extension of the Northern Line between Kennington and Battersea.
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Fig 1. Preferred alignment and shaft locations
- The preferred alignment calls for two new underground stations at Nine Elms and Battersea, location of the iconic decommissioned power station and listed building landmark (Fig 1) that is now the subject of a large-scale commercial and housing development project.
- The owner of the vast derelict site, on the River Thames southbank, is a Malaysian consortium comprising Sime Darby, S P Setia and The Employees Provident Fund (EPF), two of the largest commercial property developers in Malaysia and its largest pension fund.
- Since taking over the site in July (2012) the new owners have pledged a financial contribution towards the estimated £750 million extension, though it is not known whether this matches the £200 million promised by the previous owner prior to it being forced to sell after falling into administration.
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Proposed station at Battersea
- The UK Government has until now fallen short of offering any kind of financial assistance to get the project started. The announcement on Wednesday, made during the Government's Autumn Budget statement, could see construction begin by 2015.
- As part of the deal the Government will work with the London Mayor's Office and the London local councils of Lambeth and Wandsworth to create a zone in which the expected increase in business rates as a result of the development, alongside developer contributions, will enable the Greater London Authority to repay the Government loan.
- Boris Johnson, the Mayor of London, said: "After months of intensive discussions and hard work we have secured the go ahead from Government on financing an extension to the Northern Line. It will be an incredible confidence boost for developers preparing to invest in the area and will be a considerable boost for local people who will benefit from the new Tube link."
- TfL is already in the process of consulting with residents about its preferred alignment and the location of temporary and permanent shaft locations. The required Transport and Public Works Order application is expected to be submitted to Parliament in Spring next year (2013).
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Northern Line extension gains momentum - TunnelTalk, July 2012
UK Budget commits to infrastructure projects - TunnelTalk, December 2011
Underground extension to Battersea in London - TunnelTalk, October 2009
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