Landowners including Sainsbury’s and the Battersea Dogs and Cats Home are in negotiations with Lambeth and Wandsworth councils as Transport for London prepares to submit a Transport and Works Act Order for the proposed Northern Line extension within two months.
The NLE will require two new stations, one in Nine Elms and the other at Battersea Power Station, as well as an overrun tunnel westwards from the station at Battersea Power Station. There is also a requirement for two permanent shafts at Kennington Green and Kennington Park to provide ventilation, cooling and emergency access if required.
Among the outstanding landowner agreements is with the Battersea Dogs and Cats Home which will be affected by the overrun tunnel which will conflict with the piles supporting its Kent Building.
BDCH will have to vacate the building due to modification works and the construction of a raft beneath the building. TfL is proposing to relocate most of BDCH’s work to a four-storey building on adjacent Network Rail land, however the Kent Building also contains the home’s operating theatres which are more difficult to temporarily relocate.
The prefered location for the Nine Elms Station is on the northern side of Pascal Street, SW8. Wandsworth council say this will affect three landowners: J.Sainsbury, Banham’s Security and CGMA, with talks ongoing between TfL and the three landowners, “to agree the best means of acquisition and any longterm presence that they might wish to retain”.
Financing the Northern Line Extension:
The proposed financing of the NLE, between Wandsworth and Lambeth Councils, the GLA and HM Treasury, would use Enterprise Zone legislation to capture local business rates revenue and channel it into the delivery of the scheme.
The proposal involves the GLA borrowing up to £1bn to pay for the Tube extension, with a repayment guarantee provided by the UK Government to minimise borrowing costs.
Chancellor George Osborne announced in the 2012 autumn statement that the government would contribute £1bn in the form of a UK Guarantee to the Northern Line extension to Battersea that would support development on a similar scale to the Olympic Park.
SP Setia and Sime Derby completed their purchase of the Battersea Power Station site on 5 September for £400m.
Loan repayments would be made through contributions from local developers collected under section 106 and Community Infrastructure Levy regimes. They would also be made from the growth in business rates revenue within a new ‘Nine Elms Enterprise Zone’ which would include the regeneration area’s key development sites. The zone would stay in operation for at least 25 years.
The financing package would need to be agreed by Wandsworth Council, Lambeth Council and Transport for London before it can included in an application to build the scheme under the Transport and Works Act. TfL plans to submit this application by the end of April and the three authorities will decide whether to approve the plans before then.
“This project could represent a major breakthrough in the way we pay for vital infrastructure projects in this country. We plan to use an enterprise zone as a funding tool for a major transport upgrade, which in turn, wLeader of Wandsworth Council, Ravi Govindia said:ill create new growth, new jobs, and even greater tax receipts in the future.
“Over the long term the scheme would pay for itself while delivering a major economic and inward investment stimulus for London. It would give Battersea its first underground station and help bring an underused part of the Thames riverside back to life.”
It is hoped the new tube tunnel and two new stations are needed to support 25,000 new jobs and 16,000 new homes across the Nine Elms on the South Bank regeneration area.
The NLE proposal is to extend the Charing Cross branch of the Northern Line between the Kennington Loop and Battersea Power Station. I
The proposal will go before Wandsworth Council’s strategic planning and transportation overview and scrutiny committee today and the finance and corporate resources overview and scrutiny committee on February 27. A final decision will be made by the council’s executive on March 4.
The NLE will be constructed as a bored tunnel and will be dug from the station box that will be constructed at Battersea Power Station. It will be bored eastwards to Kennington and a short distance westwards to provide the overrun tunnel. It is intended that all spoil from the tunnels and the station box will be removed from the Battersea Power Station by river.
An agreement is proposed with the Battersea Power Station Development Company on the potential use of the jetty at Battersea Power Station and options to share spoil removal facilities with Thames Tideway Tunnel are also being considered.
It is expected that there will be a Public Inquiry into the scheme and this is likely to take place in October through to December 2013. The council say that if a favourable decision is received in mid-2014 it is expected that work could commence in late 2015.