New Tube at Battersea is now reality as Mayor drops Crossrail levy

10:17am Tuesday 27th October 2009

A new Tube station at Battersea moved from dream to reality today after the Mayor of London revealed he would divert money from Crossrail to fund the project.

Financing the Northern Line extension was the last major obstacle to opening up Nine Elms - a 200 hectare riverside site between Vauxhall and Battersea - to developers, which have also been given the green light to build skyscrapers in the locality.

Announcing a new planning framework for Nine Elms, the Mayor issued revised guidance on Crossrail contributions, which means new developers in Vauxhall and Nine Elms will be exempt from the levy.

Instead, contributions would likely go toward funding of the Northern Line extension to Battersea, he said.

The US has already won permission to build its new embassy at Nine Elms, and there are ambitious plans to redevelop Battersea’s iconic power station and the New Covent Garden Market.

The Tube, which will be paid for by developers at a cost of at least £450m, was the “final piece of the jigsaw” the Mayor said.

Boris Johnson said: “This vision represents the final piece of the jigsaw that completes the central area of London.

“Although we are currently in a downturn, the area as it stands will, in the coming decades, deliver a substantial number of new homes and new jobs.

“The regeneration of Vauxhall and Nine Elms now is hugely significant in allowing us to support the economic growth of the whole of the capital, and, with the other major regeneration projects like the Olympic Park and Kings Cross taking shape, the prosperity and the role of our great city in the world is assured.

“More than that, this neglected area which for years has failed to fulfil its potential, and is disconnected from surrounding neighbourhoods, will become a thriving new quarter for living, leisure and business and an easily accessible destination for Londoners and visitors.”

The new district would have 16,000 new homes and create up to 25,000 new jobs, he said.

The Mayor also proposed a pedestrian and cycle bridge linking Nine Elms to Pimlico across the river and a new park for residents.

The Mayor added tall buildings would be permitted “where they are appropriate and do not compromise the setting of the Palace of Westminster”.

A spokesman at the Mayor’s office said: “The framework acknowledges that both the proposal to relocate the US Embassy to Nine Elms, and the redevelopment of Battersea Power Station and New Covent Garden Market are key to successful regeneration of the area. However, it also underlines the importance of a private sector-led extension of the Northern Line from Kennington to Battersea via Nine Elms to provide the missing public transport link to the site.”

Revised Crossrail guidance also includes proposals for a 20 per cent discount on the Crossrail levy for all new office developments along the project’s route.

Leader of Wandsworth Council, Councillor Edward Lister, said: "Nine Elms presents a huge opportunity to provide thousands of new homes and jobs in a revitalised district of central london.

“In the midst of the recession the scale of enthusiasm from investors is immensely encouraging. Today's announcement that developers will be exempted from the crossrail levy is a sign of just how committed the mayor is to kick starting regeneration and securing the vital transport improvements that will ensure the success of the whole project.”

Peter Pledger, chief executive of South London Business - which represents firms south of the river, said the exemption should also apply to other areas of south London.

He said: "I am delighted for Nine Elms and I'm also delighted that Boris Johnson sees, by the same token, the Crossrail supplement will not work for other areas of south London that need redevelopment."

© Copyright 2001-2009 Newsquest Media Group

http://www.thisislocallondon.co.uk

http://www.thisislocallondon.co.uk/archive/2009/10/27/news_wandsworth/4704594.print/