A huge complex of shops, bars and restaurants is being planned for Waterloo as part of the £800 million transformation of Britain’s busiest railway terminal.
London and Continental Railways, backed by the Department for Transport, wants to create more than 130,000 sq ft of “retail and leisure” space in the disused floors under the Eurostar platforms at the former Waterloo International.
About 100 million passengers a year pass through the main railway station and a major “remodelling” by Network Rail is under way as part of a wider programme to increase capacity by up to 40 per cent, with improvements on routes to the South-West, Surrey and Berkshire.
The retail redevelopment will create three shopping floors under the five platforms that were mothballed after the Eurostar terminal was moved to St Pancras in 2007 and which will soon be reopened for the extra trains.
The plans are recommended for approval by Lambeth council on Tuesday, but concerns have been raised that small local businesses could be priced out of securing shops in the complex at the expense of multinational chain stores.
Matthew Jaffa, spokesman for the Federation of Small Businesses, said: “There needs to be floor space inside Waterloo that recognises small firms and not just the chains.
“In London, we’re losing our inherent small business space that’s vital to the community — we’ve seen it in Soho, Chinatown, Brick Lane and Brixton.”
The Jubilee Gardens Trust urged developers to make more money available to keep the area around the station clean. The park, which is next to the London Eye, had a 60 per cent increase in the amount of litter last year, and the trust fears this could increase.
David Joy, chief executive of LCR, said: “We are working with Network Rail to reopen the former Waterloo International Terminal for passenger use, providing much needed railway capacity and retail space on the lower levels, with a mix of independent, high street and food stores.
“Our ambition is for the project to match the quality of St Pancras International.”
