London’s hidden landmarks to be turned into commercial spaces.
Unused bomb shelters and train stations to be redeveloped into commercial space.
An ambitious project is about to get underway as a former JP Morgan Chase & Co executive tries to transform some of London’s most hidden properties into commercial properties. Ajit Chambers, now chief executive officer of Old London Underground Co, recently met London Mayor Boris Johnson to go over the new plans. The plans would see hidden gems such as unused London subway stations and bomb shelters redeveloped into retail space, offices and tourist attractions.
During the meetings with the London Mayor discussions covered the aspects needed to transform the sites, the overall costs, safety and the work actually needed to redevelop the areas. The first site that will be open to the public will be Brompton Road Station which is planned to be complete in time for the 2012 London Olympics.
The company have been seeking financing from investors and have already got a good amount behind them. Commenting on this Mr Chambers said: “We’ve set up the construction teams, the finance availability and the investment to renovate underground space.”
The project also had to be considered by London’s governing transport authority Transport For London. The firm closely studied the proposals and determined the potential costs and safety challenges that the project faced. Additionally, it was remarked that the mayor should be focusing on improving the travel on offer in London and the overall passenger improvements that Londoners have been calling for.