Transport for London has some really unusual commercial property to let!
What could you do with a disused depot, tunnel or archway in London? Transport for London (TFL) aims to optimise the value of its extensive property portfolio, while giving adventurous business owners the opportunity to rent or purchase unusual commercial property. From developers to small business owners, the capitals transport network has a lot to offer!
For large scale investment the Property Development team offers agents, architects and developers unique spaces, ranging from bus stations to surplus London Underground land, along withland adjacent to major highways.
However, the small business owner can also get a piece of the ‘TFL pie’. Could one of these unusual spaces suit your business?
Tube stations and tunnels
From surface yards to subsurface tunnels 120m below the hustle and bustle, these spaces lend themselves perfectly to hospitality and events. Subterranean success stories include the Old Vic tunnels beneath Waterloo and Shunt who took over the tunnels beside London Bridge for four years. The combination of ambience, talkability and a great programme of dinners, exhibitions and events made these spaces work for these businesses.
Kiosks
Around 25 million people use the Tube each week and a kiosk space could be ideal for a fast-paced business wanting to tap into a large (if distracted) audience. Coffee and food are obvious choices but there are a huge range of things that commuters need on the go. Businesses that thrive here would save costs on refitting, keeping investment to a minimum and going for impact and flexibility instead. Need inspiration? Take a look at this retail design blog about Aesop’s kiosk in Grand Central Station, on which the products are placed on stacks of copies of the New York Times.
Railway arches and viaducts
Railway arches from 500 sq ft are available and they give great flexibility as they can be rented for short term periods or three year lets. You could build from scratch or choose premises with mezzanines, heating and hot water already in place.
Large arches are successful for a diverse range of uses and a number of gyms such as Fitness4less have started to take advantage of the reduced business overheads, passing these savings on to customers. They make a great choice for nightclub owners as the solid construction helps deaden the noise – this is welcome to local residents too of course. Interconnecting arches also offer a perfect opportunity for a multi-functional business such as Hurwendeki which combines a café with a hair salon and clothes shop in adjacent arches.
Feeling inspired? Here are a few things to bear in mind when thinking about making an application to TFL.
What TFL looks for when comparing offers
- What you’re bidding for the rent
- What you want to do with the space
- Your business record
- Your financial background
Check the use
This tells you what kind of business you can run in the property. See below for details.
- A1 – retail shops, travel/ticket agencies, dry cleaners, internet cafes, hairdressers, sandwich bars
- A2 – real estate and employment agencies, banks, professional and financial services, betting offices
- A3 – food preparation units – cafes, restaurants, snack bars
- A4 – pubs and bars
- A5 – takeaway food outlets
Watch out for conflicting use i.e. if there is the same type of business as yours at the location you’re interested in. For example, TFL tend to say no to an application for a newsagent if there’s already one in a station.
To find out more, visit the TFL website.
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