The Northern line extension (NLE) from Kennington will provide the fast, high capacity transport link needed to support a major increase in the number of residents and businesses based in Nine Elms on the South Bank. It would provide two new tube stops within the area – one would be located on Wandsworth Road and another at Battersea Power Station.
The Government has confirmed a £1bn loan guarantee to fund the scheme and Transport for London will make a formal planning application under the Transport and Works Act in 2013. The new stations could open by 2019. The loan would be repaid through a levy on the area’s development sites and through future growth in business rates revenue. Three years of detailed planning and design work are already been complete and the scheme received widespread backing during its first and second round public consultations.
Find out more about the plans to extend the Northern line on the TFL website.
An independent study by leading economic consultancy Volterra has concluded that the wider economic benefits of extending the Northern line would pay for the scheme between three and nine times over.
The Volterra’s economic benefits study concluded that the new Tube link would: