How Transport For London Plans To Build 20 000 New Homes Tfl

Craig heads the Transport for London branch – he was appointed as the first commercial director more than a decade ago. TfL’s day job is running the capital’s bus and tube network, but it has kept its land and 22 years after it was set up it remains the third largest landowner in the capital, after the emirate of Qatar and the mayor of London. It could soon become one of the largest home builders. Over the next decade, Craig has drawn up plans to build more than 20,000 homes, with 1,650 already under construction. “We hope to be building homes for decades to come,” he says. “I would be surprised and disappointed if we weren’t the most impressive developer [in the capital].” The biggest development is Earl’s Court, where construction is expected to start in 2025 and take 15 years, with plans to create up to 15,000 jobs. Founded by TfL and Delancey, Earls Court Development Company’s vision is to “bring the wonder back” to a once iconic music and events venue. But it’s a vision that has been delayed and revised, and details are scarce at this stage. Developers returned to the plan after protests over plans to demolish two council estates, which have since been handed back to Hammersmith and Fulham council. The new masterplan is expected to be submitted by October 2023. TfL owns 2,226 hectares (5,500 acres) of land across London, 1.5% of London’s land area. The portfolio is valued at £1.7bn, which consists of the land around the stations and 800 railway arches. Rather than sell its lucrative assets, TfL created a separate property division in 2012 to develop land and manage properties. Almost two-fifths of the current portfolio is shop space, but TfL wants to become a bigger player in offices and residential. “Hybrid work is here to stay. Companies with offices in central London will work harder,” says Craig. “People won’t come just to send emails. You want it to be somewhere people want to come to work,” he says. “We’re not thinking about row offices where people stare at screens – people can do that at home. Offices are there for things you can’t do at home.” Younger people should be drawn back to the office, he says, and offices should have pleasant, open, flexible meeting spaces and other attractions – although TfL won’t have swimming pools and basketball courts, like Google’s new headquarters in King’s Cross. “It’s possible to have fun at work without playing basketball,” says Craig. The property arm is wholly owned by TfL, which collects all its profits, but is otherwise managed separately. Other projects include three major office projects which have planning permission at Paddington, Southwark and Cannon Street stations, and are building a range of blocks of flats across London in partnership with specialist Grainger and others. It recently secured £200m from three banks which will give it enough funding for the next three years. TfL has not retained all of its sites. He was criticized for selling the “family silver” – his headquarters at 55 Broadway overlooking St James’s Park – to a hotel entrepreneur for £120m in 2019. He also sold land above Crossrail stations, which has brought in £300m so far and is expected to bring in a total of £500m. But Craig insists TfL will only sell assets that don’t fit the portfolio. Half of the 20,000 homes planned will be classed as affordable – a higher percentage than many other developers achieve. A large part – about a third of the residence – will be for rent. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. With other partners, TfL is also building 479 rental homes and retail space on and around the new Northern Line station at Nine Elms, south of the river, as well as 619 homes in eight buildings at Kidbrooke in Greenwich, 50% of which will it’s affordable – a mix of shared ownership and rented living in London. Unlike Network Rail, which sold thousands of railway arches for £1.5bn to private equity group Blackstone in 2018 – a controversial deal that pushed up rents for many small businesses and forced some of them out – TfL kept its 800 railway its arches. “In arcades we’re seeing an increasing focus on things that are experiences – whether it’s great food or other experiences, which is different than sitting at home online,” says Craig. “There will be greater flexibility between work, home and leisure. “We’re mostly small business owners,” adds Craig. The vast majority of TfL’s 1,500 tenants (93%) are small and medium-sized shops and other businesses in underground stations and arches.

TfL tenants

Distiller Carmen O’Neal, the 36-year-old founder of Hackney gin distillery 58 and Co in east London, the UK’s first female-run distillery, which opened in July 2019, says: “I built a distillery on my mat[ernity] permission. I found the bow when I was pregnant and I wanted it so badly.” Carmen O’Neal, founder of 58 and Co, a gin distillery in Hackney. Photo: Andrea Seroni/TFL TfL was supportive during the pandemic and did not charge the company rent-free, while it had to close under lockdown rules and lost 95% of its business. During this time, he stopped making jeans and turned to making hand sanitiser for the NHS and the Met Police. The solar-powered distillery reopened last July and hosts gin classes in the front of the arch, while producing, bottling and labeling gin in the back. O’Neal, from Canada, says that, unlike other landlords she’s had in the past, who have been “out of touch, I’ve never felt that way with TfL”. The car workshop Graeme Craig, who runs the TfL property, and Joseph Salama, owner of Jack’s Garage. Photo: Transport for London/TFL Jack’s Garage in Ladbroke Grove in west London, owned and run by Joseph Salama, occupies three railway arches owned by TfL. The business, established in 1995, is a specialist VW workshop and has carried out conversions of cars into battery-powered electric vehicles, which cost from £30,000 to over £100,000 depending on vehicle make and equipment fitted. Salama says TfL came to the company’s rescue after the Grenfell Tower fire in 2017, when roads were closed for several weeks and it was unable to receive deliveries of car parts. TfL granted the garage a six-month grace period and also handed over two long-term arches to a local survivor charity. During the Covid pandemic, TfL granted all tenants in the area a three-month rent-free period and a further three months at half the usual rent. “They’ve really helped the local community,” he says.

title: “How Transport For London Plans To Build 20 000 New Homes Tfl Klmat” ShowToc: true date: “2022-12-08” author: “Edward Eyler”

Craig heads the Transport for London branch – he was appointed as the first commercial director more than a decade ago. TfL’s day job is running the capital’s bus and tube network, but it has kept its land and 22 years after it was set up it remains the third largest landowner in the capital, after the emirate of Qatar and the mayor of London. It could soon become one of the largest home builders. Over the next decade, Craig has drawn up plans to build more than 20,000 homes, with 1,650 already under construction. “We hope to be building homes for decades to come,” he says. “I would be surprised and disappointed if we weren’t the most impressive developer [in the capital].” The biggest development is Earl’s Court, where construction is expected to start in 2025 and take 15 years, with plans to create up to 15,000 jobs. Founded by TfL and Delancey, Earls Court Development Company’s vision is to “bring the wonder back” to a once iconic music and events venue. But it’s a vision that has been delayed and revised, and details are scarce at this stage. Developers returned to the plan after protests over plans to demolish two council estates, which have since been handed back to Hammersmith and Fulham council. The new masterplan is expected to be submitted by October 2023. TfL owns 2,226 hectares (5,500 acres) of land across London, 1.5% of London’s land area. The portfolio is valued at £1.7bn, which consists of the land around the stations and 800 railway arches. Rather than sell its lucrative assets, TfL created a separate property division in 2012 to develop land and manage properties. Almost two-fifths of the current portfolio is shop space, but TfL wants to become a bigger player in offices and residential. “Hybrid work is here to stay. Companies with offices in central London will work harder,” says Craig. “People won’t come just to send emails. You want it to be somewhere people want to come to work,” he says. “We’re not thinking about row offices where people stare at screens – people can do that at home. Offices are there for things you can’t do at home.” Younger people should be drawn back to the office, he says, and offices should have pleasant, open, flexible meeting spaces and other attractions – although TfL won’t have swimming pools and basketball courts, like Google’s new headquarters in King’s Cross. “It’s possible to have fun at work without playing basketball,” says Craig. The property arm is wholly owned by TfL, which collects all its profits, but is otherwise managed separately. Other projects include three major office projects which have planning permission at Paddington, Southwark and Cannon Street stations, and are building a range of blocks of flats across London in partnership with specialist Grainger and others. It recently secured £200m from three banks which will give it enough funding for the next three years. TfL has not retained all of its sites. He was criticized for selling the “family silver” – his headquarters at 55 Broadway overlooking St James’s Park – to a hotel entrepreneur for £120m in 2019. He also sold land above Crossrail stations, which has brought in £300m so far and is expected to bring in a total of £500m. But Craig insists TfL will only sell assets that don’t fit the portfolio. Half of the 20,000 homes planned will be classed as affordable – a higher percentage than many other developers achieve. A large part – about a third of the residence – will be for rent. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. With other partners, TfL is also building 479 rental homes and retail space on and around the new Northern Line station at Nine Elms, south of the river, as well as 619 homes in eight buildings at Kidbrooke in Greenwich, 50% of which will it’s affordable – a mix of shared ownership and rented living in London. Unlike Network Rail, which sold thousands of railway arches for £1.5bn to private equity group Blackstone in 2018 – a controversial deal that pushed up rents for many small businesses and forced some of them out – TfL kept its 800 railway its arches. “In arcades we’re seeing an increasing focus on things that are experiences – whether it’s great food or other experiences, which is different than sitting at home online,” says Craig. “There will be greater flexibility between work, home and leisure. “We’re mostly small business owners,” adds Craig. The vast majority of TfL’s 1,500 tenants (93%) are small and medium-sized shops and other businesses in underground stations and arches.

TfL tenants

Distiller Carmen O’Neal, the 36-year-old founder of Hackney gin distillery 58 and Co in east London, the UK’s first female-run distillery, which opened in July 2019, says: “I built a distillery on my mat[ernity] permission. I found the bow when I was pregnant and I wanted it so badly.” Carmen O’Neal, founder of 58 and Co, a gin distillery in Hackney. Photo: Andrea Seroni/TFL TfL was supportive during the pandemic and did not charge the company rent-free, while it had to close under lockdown rules and lost 95% of its business. During this time, he stopped making jeans and turned to making hand sanitiser for the NHS and the Met Police. The solar-powered distillery reopened last July and hosts gin classes in the front of the arch, while producing, bottling and labeling gin in the back. O’Neal, from Canada, says that, unlike other landlords she’s had in the past, who have been “out of touch, I’ve never felt that way with TfL”. The car workshop Graeme Craig, who runs the TfL property, and Joseph Salama, owner of Jack’s Garage. Photo: Transport for London/TFL Jack’s Garage in Ladbroke Grove in west London, owned and run by Joseph Salama, occupies three railway arches owned by TfL. The business, established in 1995, is a specialist VW workshop and has carried out conversions of cars into battery-powered electric vehicles, which cost from £30,000 to over £100,000 depending on vehicle make and equipment fitted. Salama says TfL came to the company’s rescue after the Grenfell Tower fire in 2017, when roads were closed for several weeks and it was unable to receive deliveries of car parts. TfL granted the garage a six-month grace period and also handed over two long-term arches to a local survivor charity. During the Covid pandemic, TfL granted all tenants in the area a three-month rent-free period and a further three months at half the usual rent. “They’ve really helped the local community,” he says.

title: “How Transport For London Plans To Build 20 000 New Homes Tfl Klmat” ShowToc: true date: “2022-10-27” author: “Patrick Lepe”

Craig heads the Transport for London branch – he was appointed as the first commercial director more than a decade ago. TfL’s day job is running the capital’s bus and tube network, but it has kept its land and 22 years after it was set up it remains the third largest landowner in the capital, after the emirate of Qatar and the mayor of London. It could soon become one of the largest home builders. Over the next decade, Craig has drawn up plans to build more than 20,000 homes, with 1,650 already under construction. “We hope to be building homes for decades to come,” he says. “I would be surprised and disappointed if we weren’t the most impressive developer [in the capital].” The biggest development is Earl’s Court, where construction is expected to start in 2025 and take 15 years, with plans to create up to 15,000 jobs. Founded by TfL and Delancey, Earls Court Development Company’s vision is to “bring the wonder back” to a once iconic music and events venue. But it’s a vision that has been delayed and revised, and details are scarce at this stage. Developers returned to the plan after protests over plans to demolish two council estates, which have since been handed back to Hammersmith and Fulham council. The new masterplan is expected to be submitted by October 2023. TfL owns 2,226 hectares (5,500 acres) of land across London, 1.5% of London’s land area. The portfolio is valued at £1.7bn, which consists of the land around the stations and 800 railway arches. Rather than sell its lucrative assets, TfL created a separate property division in 2012 to develop land and manage properties. Almost two-fifths of the current portfolio is shop space, but TfL wants to become a bigger player in offices and residential. “Hybrid work is here to stay. Companies with offices in central London will work harder,” says Craig. “People won’t come just to send emails. You want it to be somewhere people want to come to work,” he says. “We’re not thinking about row offices where people stare at screens – people can do that at home. Offices are there for things you can’t do at home.” Younger people should be drawn back to the office, he says, and offices should have pleasant, open, flexible meeting spaces and other attractions – although TfL won’t have swimming pools and basketball courts, like Google’s new headquarters in King’s Cross. “It’s possible to have fun at work without playing basketball,” says Craig. The property arm is wholly owned by TfL, which collects all its profits, but is otherwise managed separately. Other projects include three major office projects which have planning permission at Paddington, Southwark and Cannon Street stations, and are building a range of blocks of flats across London in partnership with specialist Grainger and others. It recently secured £200m from three banks which will give it enough funding for the next three years. TfL has not retained all of its sites. He was criticized for selling the “family silver” – his headquarters at 55 Broadway overlooking St James’s Park – to a hotel entrepreneur for £120m in 2019. He also sold land above Crossrail stations, which has brought in £300m so far and is expected to bring in a total of £500m. But Craig insists TfL will only sell assets that don’t fit the portfolio. Half of the 20,000 homes planned will be classed as affordable – a higher percentage than many other developers achieve. A large part – about a third of the residence – will be for rent. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. With other partners, TfL is also building 479 rental homes and retail space on and around the new Northern Line station at Nine Elms, south of the river, as well as 619 homes in eight buildings at Kidbrooke in Greenwich, 50% of which will it’s affordable – a mix of shared ownership and rented living in London. Unlike Network Rail, which sold thousands of railway arches for £1.5bn to private equity group Blackstone in 2018 – a controversial deal that pushed up rents for many small businesses and forced some of them out – TfL kept its 800 railway its arches. “In arcades we’re seeing an increasing focus on things that are experiences – whether it’s great food or other experiences, which is different than sitting at home online,” says Craig. “There will be greater flexibility between work, home and leisure. “We’re mostly small business owners,” adds Craig. The vast majority of TfL’s 1,500 tenants (93%) are small and medium-sized shops and other businesses in underground stations and arches.

TfL tenants

Distiller Carmen O’Neal, the 36-year-old founder of Hackney gin distillery 58 and Co in east London, the UK’s first female-run distillery, which opened in July 2019, says: “I built a distillery on my mat[ernity] permission. I found the bow when I was pregnant and I wanted it so badly.” Carmen O’Neal, founder of 58 and Co, a gin distillery in Hackney. Photo: Andrea Seroni/TFL TfL was supportive during the pandemic and did not charge the company rent-free, while it had to close under lockdown rules and lost 95% of its business. During this time, he stopped making jeans and turned to making hand sanitiser for the NHS and the Met Police. The solar-powered distillery reopened last July and hosts gin classes in the front of the arch, while producing, bottling and labeling gin in the back. O’Neal, from Canada, says that, unlike other landlords she’s had in the past, who have been “out of touch, I’ve never felt that way with TfL”. The car workshop Graeme Craig, who runs the TfL property, and Joseph Salama, owner of Jack’s Garage. Photo: Transport for London/TFL Jack’s Garage in Ladbroke Grove in west London, owned and run by Joseph Salama, occupies three railway arches owned by TfL. The business, established in 1995, is a specialist VW workshop and has carried out conversions of cars into battery-powered electric vehicles, which cost from £30,000 to over £100,000 depending on vehicle make and equipment fitted. Salama says TfL came to the company’s rescue after the Grenfell Tower fire in 2017, when roads were closed for several weeks and it was unable to receive deliveries of car parts. TfL granted the garage a six-month grace period and also handed over two long-term arches to a local survivor charity. During the Covid pandemic, TfL granted all tenants in the area a three-month rent-free period and a further three months at half the usual rent. “They’ve really helped the local community,” he says.

title: “How Transport For London Plans To Build 20 000 New Homes Tfl Klmat” ShowToc: true date: “2022-12-04” author: “Kristin Branch”

Craig heads the Transport for London branch – he was appointed as the first commercial director more than a decade ago. TfL’s day job is running the capital’s bus and tube network, but it has kept its land and 22 years after it was set up it remains the third largest landowner in the capital, after the emirate of Qatar and the mayor of London. It could soon become one of the largest home builders. Over the next decade, Craig has drawn up plans to build more than 20,000 homes, with 1,650 already under construction. “We hope to be building homes for decades to come,” he says. “I would be surprised and disappointed if we weren’t the most impressive developer [in the capital].” The biggest development is Earl’s Court, where construction is expected to start in 2025 and take 15 years, with plans to create up to 15,000 jobs. Founded by TfL and Delancey, Earls Court Development Company’s vision is to “bring the wonder back” to a once iconic music and events venue. But it’s a vision that has been delayed and revised, and details are scarce at this stage. Developers returned to the plan after protests over plans to demolish two council estates, which have since been handed back to Hammersmith and Fulham council. The new masterplan is expected to be submitted by October 2023. TfL owns 2,226 hectares (5,500 acres) of land across London, 1.5% of London’s land area. The portfolio is valued at £1.7bn, which consists of the land around the stations and 800 railway arches. Rather than sell its lucrative assets, TfL created a separate property division in 2012 to develop land and manage properties. Almost two-fifths of the current portfolio is shop space, but TfL wants to become a bigger player in offices and residential. “Hybrid work is here to stay. Companies with offices in central London will work harder,” says Craig. “People won’t come just to send emails. You want it to be somewhere people want to come to work,” he says. “We’re not thinking about row offices where people stare at screens – people can do that at home. Offices are there for things you can’t do at home.” Younger people should be drawn back to the office, he says, and offices should have pleasant, open, flexible meeting spaces and other attractions – although TfL won’t have swimming pools and basketball courts, like Google’s new headquarters in King’s Cross. “It’s possible to have fun at work without playing basketball,” says Craig. The property arm is wholly owned by TfL, which collects all its profits, but is otherwise managed separately. Other projects include three major office projects which have planning permission at Paddington, Southwark and Cannon Street stations, and are building a range of blocks of flats across London in partnership with specialist Grainger and others. It recently secured £200m from three banks which will give it enough funding for the next three years. TfL has not retained all of its sites. He was criticized for selling the “family silver” – his headquarters at 55 Broadway overlooking St James’s Park – to a hotel entrepreneur for £120m in 2019. He also sold land above Crossrail stations, which has brought in £300m so far and is expected to bring in a total of £500m. But Craig insists TfL will only sell assets that don’t fit the portfolio. Half of the 20,000 homes planned will be classed as affordable – a higher percentage than many other developers achieve. A large part – about a third of the residence – will be for rent. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. With other partners, TfL is also building 479 rental homes and retail space on and around the new Northern Line station at Nine Elms, south of the river, as well as 619 homes in eight buildings at Kidbrooke in Greenwich, 50% of which will it’s affordable – a mix of shared ownership and rented living in London. Unlike Network Rail, which sold thousands of railway arches for £1.5bn to private equity group Blackstone in 2018 – a controversial deal that pushed up rents for many small businesses and forced some of them out – TfL kept its 800 railway its arches. “In arcades we’re seeing an increasing focus on things that are experiences – whether it’s great food or other experiences, which is different than sitting at home online,” says Craig. “There will be greater flexibility between work, home and leisure. “We’re mostly small business owners,” adds Craig. The vast majority of TfL’s 1,500 tenants (93%) are small and medium-sized shops and other businesses in underground stations and arches.

TfL tenants

Distiller Carmen O’Neal, the 36-year-old founder of Hackney gin distillery 58 and Co in east London, the UK’s first female-run distillery, which opened in July 2019, says: “I built a distillery on my mat[ernity] permission. I found the bow when I was pregnant and I wanted it so badly.” Carmen O’Neal, founder of 58 and Co, a gin distillery in Hackney. Photo: Andrea Seroni/TFL TfL was supportive during the pandemic and did not charge the company rent-free, while it had to close under lockdown rules and lost 95% of its business. During this time, he stopped making jeans and turned to making hand sanitiser for the NHS and the Met Police. The solar-powered distillery reopened last July and hosts gin classes in the front of the arch, while producing, bottling and labeling gin in the back. O’Neal, from Canada, says that, unlike other landlords she’s had in the past, who have been “out of touch, I’ve never felt that way with TfL”. The car workshop Graeme Craig, who runs the TfL property, and Joseph Salama, owner of Jack’s Garage. Photo: Transport for London/TFL Jack’s Garage in Ladbroke Grove in west London, owned and run by Joseph Salama, occupies three railway arches owned by TfL. The business, established in 1995, is a specialist VW workshop and has carried out conversions of cars into battery-powered electric vehicles, which cost from £30,000 to over £100,000 depending on vehicle make and equipment fitted. Salama says TfL came to the company’s rescue after the Grenfell Tower fire in 2017, when roads were closed for several weeks and it was unable to receive deliveries of car parts. TfL granted the garage a six-month grace period and also handed over two long-term arches to a local survivor charity. During the Covid pandemic, TfL granted all tenants in the area a three-month rent-free period and a further three months at half the usual rent. “They’ve really helped the local community,” he says.

title: “How Transport For London Plans To Build 20 000 New Homes Tfl Klmat” ShowToc: true date: “2022-11-19” author: “Robert Vaughn”

Craig heads the Transport for London branch – he was appointed as the first commercial director more than a decade ago. TfL’s day job is running the capital’s bus and tube network, but it has kept its land and 22 years after it was set up it remains the third largest landowner in the capital, after the emirate of Qatar and the mayor of London. It could soon become one of the largest home builders. Over the next decade, Craig has drawn up plans to build more than 20,000 homes, with 1,650 already under construction. “We hope to be building homes for decades to come,” he says. “I would be surprised and disappointed if we weren’t the most impressive developer [in the capital].” The biggest development is Earl’s Court, where construction is expected to start in 2025 and take 15 years, with plans to create up to 15,000 jobs. Founded by TfL and Delancey, Earls Court Development Company’s vision is to “bring the wonder back” to a once iconic music and events venue. But it’s a vision that has been delayed and revised, and details are scarce at this stage. Developers returned to the plan after protests over plans to demolish two council estates, which have since been handed back to Hammersmith and Fulham council. The new masterplan is expected to be submitted by October 2023. TfL owns 2,226 hectares (5,500 acres) of land across London, 1.5% of London’s land area. The portfolio is valued at £1.7bn, which consists of the land around the stations and 800 railway arches. Rather than sell its lucrative assets, TfL created a separate property division in 2012 to develop land and manage properties. Almost two-fifths of the current portfolio is shop space, but TfL wants to become a bigger player in offices and residential. “Hybrid work is here to stay. Companies with offices in central London will work harder,” says Craig. “People won’t come just to send emails. You want it to be somewhere people want to come to work,” he says. “We’re not thinking about row offices where people stare at screens – people can do that at home. Offices are there for things you can’t do at home.” Younger people should be drawn back to the office, he says, and offices should have pleasant, open, flexible meeting spaces and other attractions – although TfL won’t have swimming pools and basketball courts, like Google’s new headquarters in King’s Cross. “It’s possible to have fun at work without playing basketball,” says Craig. The property arm is wholly owned by TfL, which collects all its profits, but is otherwise managed separately. Other projects include three major office projects which have planning permission at Paddington, Southwark and Cannon Street stations, and are building a range of blocks of flats across London in partnership with specialist Grainger and others. It recently secured £200m from three banks which will give it enough funding for the next three years. TfL has not retained all of its sites. He was criticized for selling the “family silver” – his headquarters at 55 Broadway overlooking St James’s Park – to a hotel entrepreneur for £120m in 2019. He also sold land above Crossrail stations, which has brought in £300m so far and is expected to bring in a total of £500m. But Craig insists TfL will only sell assets that don’t fit the portfolio. Half of the 20,000 homes planned will be classed as affordable – a higher percentage than many other developers achieve. A large part – about a third of the residence – will be for rent. Subscribe to Business Today Get ready for the business day – we’ll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. With other partners, TfL is also building 479 rental homes and retail space on and around the new Northern Line station at Nine Elms, south of the river, as well as 619 homes in eight buildings at Kidbrooke in Greenwich, 50% of which will it’s affordable – a mix of shared ownership and rented living in London. Unlike Network Rail, which sold thousands of railway arches for £1.5bn to private equity group Blackstone in 2018 – a controversial deal that pushed up rents for many small businesses and forced some of them out – TfL kept its 800 railway its arches. “In arcades we’re seeing an increasing focus on things that are experiences – whether it’s great food or other experiences, which is different than sitting at home online,” says Craig. “There will be greater flexibility between work, home and leisure. “We’re mostly small business owners,” adds Craig. The vast majority of TfL’s 1,500 tenants (93%) are small and medium-sized shops and other businesses in underground stations and arches.

TfL tenants

Distiller Carmen O’Neal, the 36-year-old founder of Hackney gin distillery 58 and Co in east London, the UK’s first female-run distillery, which opened in July 2019, says: “I built a distillery on my mat[ernity] permission. I found the bow when I was pregnant and I wanted it so badly.” Carmen O’Neal, founder of 58 and Co, a gin distillery in Hackney. Photo: Andrea Seroni/TFL TfL was supportive during the pandemic and did not charge the company rent-free, while it had to close under lockdown rules and lost 95% of its business. During this time, he stopped making jeans and turned to making hand sanitiser for the NHS and the Met Police. The solar-powered distillery reopened last July and hosts gin classes in the front of the arch, while producing, bottling and labeling gin in the back. O’Neal, from Canada, says that, unlike other landlords she’s had in the past, who have been “out of touch, I’ve never felt that way with TfL”. The car workshop Graeme Craig, who runs the TfL property, and Joseph Salama, owner of Jack’s Garage. Photo: Transport for London/TFL Jack’s Garage in Ladbroke Grove in west London, owned and run by Joseph Salama, occupies three railway arches owned by TfL. The business, established in 1995, is a specialist VW workshop and has carried out conversions of cars into battery-powered electric vehicles, which cost from £30,000 to over £100,000 depending on vehicle make and equipment fitted. Salama says TfL came to the company’s rescue after the Grenfell Tower fire in 2017, when roads were closed for several weeks and it was unable to receive deliveries of car parts. TfL granted the garage a six-month grace period and also handed over two long-term arches to a local survivor charity. During the Covid pandemic, TfL granted all tenants in the area a three-month rent-free period and a further three months at half the usual rent. “They’ve really helped the local community,” he says.