Clapham Junction looks set for a major overhaul after Network Rail took back control of the south-west London station earlier this month.
Train operator South Western Railway handed management of the station to Network Rail in order for upgrade works to take place.
Making Clapham Junction a managed station gives Network Rail full control of its maintenance and renewal work, as well as its commercial activities.
The majority of rail stations are managed by train operators, which lease them from Network Rail.
The rail client said the new powers allow it to look at ways of easing congestion at Clapham Junction in the short term, as well as explore the feasibility of more significant development in the future.
A revamp of Clapham Junction will be the latest station upgrade carried out by Network Rail, following on from Mace’s £750m Birmingham New Street revamp and Costain’s £400m London Bridge redevelopment.
Network Rail took over the management of both stations prior to the revamps.
Clapham Junction is one of the UK’s busiest rail stations with nearly 30m passengers passing through it every year.
Last year it was revealed that Network Rail had enlisted property developer Capco to examine ideas and proposals for the station’s regeneration.
According to Property Week, this included potentially decking over the station for development space.
Network Rail said the work at Clapham Junction could extend past 2024.
Clapham is one of two stations Network Rail has recently taken over for potential redevelopment, with the client also assuming management of Guildford station in Surrey.
A £150m redevelopment of Guildford has now been approved and Network Rail has plans to increase capacity with track works and new platforms.
Network Rail managing director of property David Biggs said: “This is the start of an exciting new chapter for Guildford and Clapham Junction.
“Managing both stations will allow us to deliver significant benefits to the railway, station users and surrounding communities.
“Our previous work across our managed station portfolio has helped deliver a range of important projects, including the redevelopment of Birmingham New Street, King’s Cross and London Bridge stations.”