Media centre

Thursday 22 May 2025

Network Rail Property, Places for London and the London Borough of Lambeth form a strategic partnership to regenerate Waterloo Station and South Bank neighbourhood

Region & Route:

Southern

The creation of the new partnership follows the Waterloo Station Vision published last year which set out a series of long-term aspirations for both the station and the wider area.

London Waterloo Station is the fourth busiest station in Great Britain. Located next to the cultural hub of the South Bank and home to major organisations including St Thomas’s Hospital, The Old Vic, Southbank Centre and BFI Southbank, London Waterloo Station needs to serve and connect a growing workforce for the capital, alongside the growth for tourists and leisure customers during weekends and holidays.

The partnership between the three parties will explore opportunities to deliver a new station destination, improving the customer experience within and around the station environment. This forms an integral part of a wider regeneration plan.

Working closely with key stakeholders and the local community, future regeneration will improve wider permeability, create iconic open spaces, alongside bringing forward the widest range of development and investment opportunities.

The plans will be brought forward in a series of phases, working with both private and public sector partners.

Robin Dobson, Group Property Director, Network Rail said: “This is a great step forward in combining both our resources and assets across Waterloo and South Bank. We will work with neighbouring partners to deliver a regeneration plan that unlocks huge growth and investment opportunities across the Borough, delivering the widest mix of uses and something very special for this important part of London for future generations to come.”

Graeme Craig, Director and Chief Executive, Places for London added: “Millions of people pass through Waterloo every year to work and explore the South Bank and beyond. Through this new collaboration, we can ensure those customers are getting the very best London has to offer as they travel through this historic transport hub. This a great opportunity for Places for London to work with Network Rail and the London Borough of Lambeth to provide a new and improved vision for the community and all who come to Waterloo."

Cllr Claire Holland, the Leader of Lambeth Council, said: “We are delighted to be joining Network Rail and Places for London in committing to this significant investment in Lambeth, and we look forward to working with them to progress this project.

The collaboration agreement we’ve signed paves the way for a transformation of both Waterloo station and the surrounding neighbourhood.

As a council we are keenly focussed on growth opportunities that benefit Lambeth residents. This project significantly supports that aim by creating job opportunities, attracting more businesses to the area and will also see new homes built.

We now look forward to working closely with local business groups, the South Bank’s world class arts centres, universities and hospitals in the area to ensure the scheme really delivers for Lambeth.”

Places for London is Transport for London’s wholly owned property company

ENDS