Boris bids for £3.5b transport investment in property push

Boris hopes to generate £3.5b in non-fares revenue. Pic by Katie Collins/PA

Boris hopes to generate £3.5b in non-fares revenue. Pic by Katie Collins/PA - Credit: PA Archive/Press Association Ima

Transport for London attracted the interest of more than 50 companies in its property development push.

The provider, which owns 40 sites in Newham and about 5,700 acres of property in London, is searching for partners to generate £3.5billion in non-fares revenue in the next decade – part of London Mayor Boris Johnson’s reinvestment-driven bid to bring down fares.

The group’s director of commercial development, Graeme Craig, said interest was high.

“The number and quality of companies who have submitted is impressive,” he said.

“Our framework will provide the opportunity to develop assetts across the capital to help us realise the long-term value of our estate while creating the houses, jobs and economic growth to support London’s growing population.”

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