The Northern line extension (NLE) from Kennington will provide the fast, high capacity transport link needed to support a major increase in the number of residents and businesses based in Nine Elms on the South Bank. It will provide two new tube stops within the area – one will be located at Nine Elms on Wandsworth Road and another at Battersea Power Station.
The Government confirmed a £1bn loan guarantee to fund the scheme and Transport for London (TfL)’s formal planning application under the Transport and Works Act was approved by the Secretary of State for Transport in November 2014. TfL appointed the joint venture Ferrovial Agroman Laing O’Rourke (FLO) to design and build the NLE, and construction started in early 2015. The new stations are due to be operational by 2020. The loan will be repaid through a levy on the area’s development sites and through future growth in business rates revenue.
The NLE will support around 1,000 jobs and 50 apprenticeships and opportunities will be co-ordinated with Nine Elms on the South Bank’s local jobs brokerages.
Find out more about the plans to extend the Northern line on the TfL website.
Volterra’s economic benefits study (2011) concluded that the new Tube link would:
- expand the Central London Activity Zone – one of the most productive commercial districts in the world.
- generate up to £7.9bn in wider economic benefits and up to £4.5 billion in additional tax revenue for the Exchequer.
- repay the money spent delivering the NLE between three and nine times over through increased economic outputs and increased foreign investment in the UK .
- more than treble the number new of jobs created in the area – up to 25,000
- provide capacity for the thousands of new homes in the area