Network Rail Property, Places for London, and the London Borough of Lambeth have joined forces in a landmark partnership aimed at revitalising London Waterloo Station and the surrounding South Bank area.
This collaboration builds on the momentum of the Waterloo Station Vision, published last year, which outlined a bold, long-term blueprint for the station and its wider neighbourhood.
As the fourth busiest station in Great Britain, London Waterloo is a vital gateway to the capital. Nestled beside the vibrant South Bank—home to cultural icons like The Old Vic, Southbank Centre, BFI Southbank, and St Thomas’s Hospital—the station plays a crucial role in connecting London’s growing workforce and welcoming millions of tourists and leisure visitors each year.
The new partnership will explore transformative opportunities to reimagine Waterloo as a world-class destination. Plans include enhancing the station experience, improving connectivity, and creating a more welcoming and accessible environment for all.
This regeneration effort is part of a broader vision to unlock the area’s full potential. Working closely with local communities and key stakeholders, the project aims to improve movement through the area, introduce iconic public spaces, and attract a diverse range of development and investment opportunities.
The regeneration will be delivered in phases, with collaboration across both public and private sectors to ensure a sustainable and inclusive transformation.
Robin Dobson, Group Property Director, Network Rail said: “This is a great step forward in combining both our resources and assets across Waterloo and South Bank. We will work with neighbouring partners to deliver a regeneration plan that unlocks huge growth and investment opportunities across the Borough, delivering the widest mix of uses and something very special for this important part of London for future generations to come.”
Graeme Craig, Director and Chief Executive, Places for London added: “Millions of people pass through Waterloo every year to work and explore the South Bank and beyond."
"Through this new collaboration, we can ensure those customers are getting the very best London has to offer as they travel through this historic transport hub."
"This a great opportunity for Places for London to work with Network Rail and the London Borough of Lambeth to provide a new and improved vision for the community and all who come to Waterloo."
Cllr Claire Holland, the Leader of Lambeth Council, said: “We are delighted to be joining Network Rail and Places for London in committing to this significant investment in Lambeth, and we look forward to working with them to progress this project.
The collaboration agreement we’ve signed paves the way for a transformation of both Waterloo station and the surrounding neighbourhood.
As a council we are keenly focussed on growth opportunities that benefit Lambeth residents. This project significantly supports that aim by creating job opportunities, attracting more businesses to the area and will also see new homes built.
We now look forward to working closely with local business groups, the South Bank’s world class arts centres, universities and hospitals in the area to ensure the scheme really delivers for Lambeth.”
Places for London is Transport for London’s wholly owned property company
Image credit: Network Rail
