The London Underground is one of the most important transport networks in the world. It means everyone can easily travel all across the city. People rely on it daily, whether it is for work, heading to school, college or university, or enjoying some leisure. It is also wonderful for visitors, making it easy for them to move around. It could get better too, with plans for new stations in the future. We want to look at this today and the impact it could have on property investment in Lewisham.
So many stations
The Underground has hundreds of stations all across the city. This number changes gradually with time too as new ones open. Nine Elms on the Northern Line opened in 2021. Around this time we also had a lot of work on the Elizabeth Line, creating ten new stations and refurbishing dozens of others. The route became fully operational in 2022.
Two shelved stations
Sadly, not all plans for new stations come to fruition. There had been a proposal to expand the Metropolitan Line, rerouting services via two new stops. This work would have created a station at Cassiobridge and a second at Watford Vicarage Road. Services would have completely bypassed Watford Station.
The original plan was to complete the work by 2020. It got approval back in 2011 before getting further green lights in 2013 and 2015. However, there was an abrupt halt to the development in 2016/17 because of a funding dispute. There were attempts to resolve the funding issue to get the project moving, but TfL would not accept the risk of another cost over-run. There is now work to look at alternatives plans.
Four we could get
Earlier this year we got news of a plan to extend a different Tube Line. This time the work will involve extending the Bakerloo Line in South London. It could therefore lead to a new focus on property investment in Lewisham.
The proposal is to have a new route from Elephant and Castle to Lewisham, with new stops. New locations for stations could include Old Kent Road and Burgess Park. In addition, the work would bring the Tube to Lewisham which is currently a DLR and national rail station. New Cross Gate, currently on the Overground, would also get Tube services.
This project is in its infancy, but there are some background documents to view, including a proposal of the map of the route. If it does progress, the goal is to get approval before 2030 so work can begin. We could then see the line up and running by 2040, with new stations opening in the meantime.
If the project does get approval, it could make more people interested in living in areas close to the route. It could also lead to potential future developments the opposite side of Lewisham.
Do you want some support with property investment in Lewisham?
Finefair Ltd has the experience to help investors with various strategies. Maybe you target areas where homes have a premium because they are close to Tube stations, parks, or other amenities. Or, maybe you go for rural spots with bigger homes and cheaper prices. Whatever the case, we can provide services all over London.
One of the best things we do with property investment in Lewisham is arrange guaranteed rent. It can ensure you get income for your properties even if there are no tenants. This gives you peace of mind and more financial stability. Plus, it can include management and maintenance in a neat package with no extra costs.
So, if you want some help, speak to us.
