Transport for London (TfL) is inviting businesses to submit innovative ideas to transform Down Street Tube station into a commercially viable business as part of its plans to generate £3.4bn in non-fare revenue to reinvest in the transport network.
Down Street Tube station, is located on a quiet residential street off Piccadilly. It opened on the Great Northern Piccadilly & Brompton Railway on 15 March 1907 and closed on 22 May 1932 due to low passenger usage because of its close proximity to Hyde Park Corner and Green Park (formerly Dover Street) stations.
TfL is offering a unique opportunity for established and enterprising businesses to develop the untapped potential of the disused station, which is located in the heart of one of the most exclusive postcodes in London.
Although Down Street station is closed to the public, it is still in regular use as part of the day to day operation of the Tube. TfL will lease out part of the station, around 400m2, to businesses who have the ability to use the space to create something exceptional and establish the next chapter in the station's history.
Graeme Craig, TfL's Director of Commercial Development, said: `The combination of space, history, and location, makes this a unique opportunity. We are looking for a partner with the imagination to see the potential here and the capability to deliver it.'
'Adjoining parts of the station are still required for running the Tube, but we will work with interested parties to ensure the commercial and operational activities can happily coexist.'
The station played a vital role in the Second World War when it was used as the protected underground headquarters for the Railway Executive Committee. It is also believed that the station was used by Sir Winston Churchill and the War Cabinet while the Cabinet War Rooms were being prepared.
Potential tenants can find out more about the station at http://www.tfl.gov.uk/info-for/business-and-commercial/commercial-opportunities/new-projects .
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