On behalf of the RIA London & South Leadership Group, we are delighted to present this investment prospectus, highlighting the extraordinary potential of rail projects across London and the South to drive economic growth, enhance connectivity, and deliver a more sustainable future.
The region’s rail network has always been the cornerstone of the UK’s economy and social fabric. They connect communities, empower businesses, and enable millions of journeys every day. However, as the region faces challenges like population growth, housing demand, and climate change, our rail infrastructure must evolve to meet these challenges.
This document is the result of extensive collaboration between RIA members, key clients, and industry stakeholders. It offers a clear vision of the transformative projects that can unlock the region’s full potential. From the DLR extension to Thamesmead to the Heathrow Southern Rail Link, these initiatives demonstrate how strategic third-party investment from the private sector in rail can catalyse economic development, improve quality of life, and create a cleaner, greener future.
We are encouraged by the government’s renewed focus on infrastructure, housing, and planning reform. With the right
partnerships, ambition, and investment, the opportunities outlined in this prospectus can become a reality, bringing benefits that will be felt across generations.
We invite you to explore this prospectus and join us in championing a future where rail plays a central role in transforming London and the South into a region defined by opportunity, innovation, and sustainability.
Ryan Anderson, Chair Bryony Goldsmith, Vice-Chair
1. Welcome from the Chair and Vice-Chair
2. Introduction
3. Location of Key Schemes
4. The Case for Private Investment
5. The Schemes
a. Abbey Wood to Ebbsfleet
b. Bakerloo Line Extension
c. Brighton Mainline Improvements
d. Crossrail 2
e. Croydon Area Remodelling Scheme
f. DLR Extension to Thamesmead
g. Gatwick to Kent Direct Rail Service
h. Heathrow Southern Rail Link
i. Heathrow Western Rail Link
j. High-Speed Rail Extensions (Kent, Medway, and East Sussex)
k. High Speed 2 (HS2) Extension to Euston
l. Kenex Tram Link
m. Northern Line Extension to Clapham Junction
n. Solent to Midlands Rail Freight Upgrade
o. West London Orbital
6. Contributors
7. Get in Touch
These transformative projects form the backbone of a resilient, efficient, and sustainable transport network for London and the South. More than just infrastructure improvements, they represent a blueprint for economic prosperity, social inclusion, and environmental progress.
Equally, looking through a wider lens toward more of a multi-modal model, delivering lowhanging fruit in decarbonisation whilst supporting communities and achieving positive return on investment (ROI) can be swiftly achieved by maximising the underutilised potential of the London St Pancras High Speed network and estate. By reinvigorating strategically located stations as gateways for short-haul international rail services, the UK and Europe can significantly reduce reliance on carbon-intensive short-haul flights. Shifting passengers from air to high-
speed rail on short haul routes frees up valuable runway capacity for essential mid- and long-haul air services. This “runways to railways” approach aligns with both climate goals and economic efficiency, ensuring that finite airport infrastructure is reserved for routes where rail is not viable, while making better use of existing rail assets already built for international travel.
The development of an express freight network using multiple units throughout the Southeast should also be considered. This could build on the
Solent-Midlands Freight upgrade mentioned as part of this document or through the recent Cross River Partnership announcement.
Other considerations that go beyond the scope of this document but that were considered include the development of Open Access to encourage tourist charter services (such as repeat business
on scenic routes around Kent, South Coast and North Downs) and the wider support of the heritage railway network where there is access to the national rail network, to serve communities who have had no rail connections since the mid20th Century.
With the proven success of the Elizabeth line as a blueprint, the promising signals from the government’s “Plan for Change”, and the enabling environment fostered by planning and financial market reforms, the investments proposed in this prospectus offer an unparalleled opportunity to reshape the region’s future. We invite you to explore the opportunities outlined in this prospectus and join us in building a smarter, greener, and more connected future for London and the South.
The case for Private Investment
This prospectus supports investment decisionmaking using HM Treasury’s Five Case Model, setting out a clear Strategic, Economic, Commercial, Financial, and Management Case for transformative rail schemes across London and the South. The region is the economic engine of the UK, and rail infrastructure is its foundation. With public funding constrained and demand growing, private capital is essential to unlocking schemes that will enable new homes, support regeneration, and deliver long-term returns for both investors and society.
Where are we now?
The London & South region is the most economically active and public transportdependent part of the UK. It supports:
● 70% of all UK rail journeys, totalling 1.63 billion passenger trips in 2022/23.
● £5.4 billion in annual passenger revenue (ORR, 2023).
● 305,000 rail-supported jobs and £20.7 billion GVA from the rail industry.
● £6.5 billion in annual tax revenue from rail activity in the region.
● £1 billion rail freight market, linking ports at Southampton, Thames Gateway, and the Channel Tunnel to national supply chains.
● But the network is under growing strain:
● Key corridors (e.g. Brighton Mainline, South Western Mainline) are already operating at or above capacity.
● Over £3.6 billion of critical renewals are identified in Network Rail’s Southern Region Strategic Plan to 2035.
● Major stations like Victoria, Clapham Junction, and Waterloo face acute overcrowding, with constrained interchange and regeneration potential.
● Asset condition challenges, ageing signalling, and overcrowded interchanges are reducing reliability and suppressing growth.
Where are we going?
Demographic Growth and Housing Pressure
● London’s population will exceed 10 million by 2030, with the wider South East growing by over 1.5 million by 2040.
● Housing demand exceeds 65,000 new homes per year across Greater London alone (London Plan).
● Transport for London (TfL)/Greater London Authority (GLA) evidence shows 60–70% of new housing delivery in growth corridors depends on rail infrastructure.
Passenger Trends & Service Recovery
● Rail usage in the region has recovered to c.90% of pre-pandemic levels.
● Commuter corridors such as Thameslink, Kent, and West Anglia routes are exceeding 2019 volumes during peak times.
● The Elizabeth line has delivered over 350 million journeys since opening in 2022, with annual demand now surpassing 140 million trips/
year which far exceeds pre-pandemic demand predictions.
● Department for Transport (DfT) and Network Rail forecasts suggest regional demand will exceed pre-Covid levels by 15–20% by 2035. This provides an opportunity for a strong farebox and ancillary revenue base for investment returns.
Public Sector and Local Authority Support
● TfL, Network Rail, GLA, and Homes England are actively working to unlock transport-led housing and regeneration schemes.
● Local authorities including Wandsworth, Bexley, Kent County Council, and Medway are promoting rail extensions and station area masterplans.
● The DfT has expressed support for “third-party investment models” in its Plan for Rail and Freight Growth Strategy.
● Projects such as KenEx Tram Link, Bakerloo Line Extension (BLE), and Heathrow Southern Rail are already structured for public-private partnerships.
Return on Investment: what revenue streams will bring returns?
Public funding alone cannot keep pace with the scale of the region’s transport and housing needs. Private capital, structured through partnerships, land value capture, and revenue-linked models, is essential to unlock:
Source Description Potential ROI Lever
Land Value Uplift Rail proximity increases land value by 10–25% in mixed-use areas.
Enabling rail links unlock up to 200,000 homes across key corridors (e.g. BLE, Thamesmead DLR, Ebbsfleet).
S106/CIL (legal agreements made between local authorities and developers), land sales, shared infrastructure contributions.
Station-Led Regeneration
Mixed-use stations (e.g. Euston, Clapham Junction) can deliver over 1.5m sq ft commercial floorspace, moving away from railway station projects toward campus developments to support wider communities
Passenger Revenue Growth Each 10% uplift in capacity can deliver £200–300m in additional fare revenue regionally
Freight Market Strategic upgrades (e.g. Solent-Midlands route) cut transport costs and unlock new intermodal traffic
Revenue sharing, O&M contracts with guaranteed usage targets
Terminal investment, logistics partnerships, land leases
Rail as a Catalyst for Housing, Regeneration, People and Place
Rail enables more than movement, it creates places, economic opportunity, and local identity. It links homes to jobs, education to opportunity, and towns to thriving centres. Investment-ready schemes in this prospectus are designed to encourage:
● Placemaking: New and revitalised stations (e.g. Thamesmead, Old Kent Road, Lewisham) become focal points for development and community use.
● Levelling Up and Net Zero Goals: Investment drives modal shift. improves air quality, and reduces road congestion.
● Localised Growth: Rail access increases town centre footfall by up to 30%, as shown in recent RIA/Arup analysis on station-led regeneration.
● Every £1 invested in rail stations returns £2.20 in direct and indirect benefits.
● Mixed-use station redevelopment delivers up to £450 million in local economic uplift per scheme, depending on scale and location.
The London & South rail network is the economic backbone of the UK, but its future depends on strategic reinvestment. By using private capital, the schemes outlined in this prospectus can:
● Unlock new housing, jobs, and value for communities;
● Deliver reliable financial returns across multiple revenue streams; and
● Enable asset owners such as TfL and Network Rail, and local authorities to meet public goals faster and more effectively.
This prospectus outlines high-potential, investment-ready projects designed to reshape the region. These are not just transport upgrades, they are city-shaping interventions with clear financial, social, and environmental returns.
Abbey Wood to Ebbsfleet
Abbey Wood to Ebbsfleet Corridor Upgrades
ASSET CLASS
Heavy rail and integrated transport
EST. VALUE
£900m–£1.2bn
TIMELINE
Phased delivery from mid-2020s to early 2030s
PLANNING STATUS:
Early development stage; options assessment underway
This project proposes infrastructure improvements along the Abbey Wood to Ebbsfleet corridor to support housingled growth in Bexley, Dartford, and North Kent.
It builds on the success of the Elizabeth line and includes service enhancements, junction upgrades, and potential new stations or transit links to unlock land for development.
The initiative is supported by:
● London Borough of Bexley
● Kent County Council
● Thames Estuary Growth Board
● Homes England
● Department for Transport
WHAT’S THE BUSINESS CASE?
Targeted upgrades would enable the delivery of over 25,000 new homes in key opportunity areas such as Belvedere, Slade Green, and Ebbsfleet.
Improved rail services will also support jobs growth and provide better access to London employment hubs via the Elizabeth line and Southeastern services.
KEY FACTS:
■ Economic Impact: Supports Thames Estuary-led regeneration and local tax base growth.
■ New Homes: Up to 25,000 new homes enabled across Bexley, Dartford and Ebbsfleet.
■ New Jobs: Estimated 10,000 jobs supported during and post-construction.
■ Efficiency Gains: Reduces travel times to London; connects with Elizabeth line and Southeastern.
Brighton Mainline Improvements
Brighton Mainline Improvements to Resilience and Asset Condition
ASSET CLASS
Heavy rail (resilience / renewal)
EST. VALUE
£750m–£1bn
TIMELINE 2025–2032
PLANNING STATUS:
Some interventions consented; further scoping and prioritisation ongoing
The Brighton Mainline (BML) is a critical commuter and intercity rail corridor linking London, Gatwick Airport, and the South Coast.
This programme of works will address longstanding infrastructure constraints, including track geometry, signalling, and drainage issues.
It will enhance the resilience and reliability of this corridor which is essential to maintain service levels and passenger confidence.
The work will also include decarbonisation solutions for the Uckfield line which should remove the last remaining diesel trains from London Bridge.
WHAT’S THE BUSINESS CASE?
Upgrading ageing infrastructure and improving asset condition will reduce delays, enhance timetable reliability, and create headroom for future growth in passenger demand.
The route is a strategic alternative to car and air travel for regional journeys, aligning with decarbonisation and modal shift goals.
KEY FACTS:
■ Economic Impact: Enhances productivity along the London-Gatwick-Brighton corridor.
■ New Homes: Indirectly supports housing growth across West Sussex and South London.
■ New Jobs: Safeguards existing employment catchments by improving commuter reliability.
Crossrail 2 is a proposed new railway linking the South West and North East of London via a tunnel through central London.
It would connect key growth areas including the Upper Lea Valley and areas around Kingston and Wimbledon, relieving pressure on existing lines and unlocking thousands of new homes and jobs.
The development of Crossrail 2 from South West London to North East London would also support connectivity to Stansted and East Anglia and could connect through Euston, potentially opening up High Speed 2 (HS2) connections.
The project is designed to futureproof London’s transport network for the second half of the century.
Crossrail 2 has been developed in collaboration with:
● Transport for London
● Department for Transport
● Network Rail
● Greater London Authority
● Local authorities and private developers across the corridor
WHAT’S THE BUSINESS CASE?
The line would transform capacity across the South
West Main Line and key London Underground interchanges, alleviating some of the most congested parts of the network.
It is expected to support over 200,000 new homes and 60,000 new jobs, while unlocking £150bn in broader economic benefits.
KEY FACTS:
■ Economic Impact: Up to £150bn in GVA uplift.
■ New Homes: Supports 200,000 new homes across London and the South East.
■ New Jobs: Unlocks 60,000 jobs during construction and through regeneration.
■ Efficiency Gains: Provides 10% increase in London rail capacity; reduces crowding on Victoria, Northern, and Piccadilly lines.
Croydon Area Remodelling Scheme
Croydon Area
Remodelling Scheme
ASSET CLASS
Overground Rail
EST. VALUE
£1.2bn
TIMELINE
Planning Application: Expected submission in 2025.
Construction Start: 2026.
Completion: Estimated by 2033.
PLANNING STATUS: Consultation
The Croydon Area Remodelling Scheme (CARS) is designed to increase capacity and reduce congestion for services through East Croydon, Selhurst, and Norwood Junction, which are major junctions for trains traveling to and from London and the South East. It is also crucial for improving the Brighton Main Line’s performance, benefiting commuters and freight services.
Network Rail is currently conducting public consultations and stakeholder engagement, with design and environmental assessments ongoing. The estimated cost for this project is £1.2 billion. The project involves:
● Expanding East Croydon Station from six to eight platforms.
● Building three additional tracks between East Croydon and the Selhurst triangle.
● Rebuilding major infrastructure, including the Lower Addiscombe Road/Windmill Bridge.
● Creating new flyovers and dive-unders to improve capacity and separate conflicting rail movements.
WHAT’S THE BUSINESS CASE?
There is a need to address capacity and reliability issues on one of the UK’s busiest rail routes, serving London, Gatwick Airport, and Brighton.
With passenger demand on the Brighton Main Line set to increase significantly in the coming decades, the remodelling will help meet this demand and prevent further deterioration in service reliability.
KEY FACTS:
■ Economic Benefit: £4bn over 20 years.
■ Passenger No’s: Est. 30% increase on key routes.
■ Journey Time Reduction: Average of 5-10 mins saved on Brighton Main Line services.
■ Local Jobs: 3,000 created during the construction phase alone.
DLR Extension to Thamesmead
DLR extension to Beckton Riverside and Thamesmead
ASSET CLASS
Light rail
EST. VALUE
£1.7bn
TIMELINE
Completed by early 2030’s
PLANNING STATUS: Consultation
TfL are proposing to extend the DLR to Beckton Riverside and Thamesmead. They are working with the GLA and partners to understand the full potential and support for this proposal. Other partners include:
● Royal Borough of Greenwich
● London Borough of Newham
● Department for Levelling Up, Housing and Communities,
● Homes England, and
● Department for Transport
TfL are looking at a package containing 2 key options for supporting new homes and jobs in Beckton Riverside and Thamesmead. This includes:
1. A cross-river DLR extension from Gallions Reach to Thamesmead via Beckton Riverside. This would connect 2 opportunity areas and 4 development sites, including:
● New DLR station at Beckton Riverside
● Tunnel under the River Thames
● New DLR station at Thamesmead
2. A bus transit scheme from Woolwich to Abbey Wood via Thamesmead.
WHAT’S THE BUSINESS CASE?
This extension would improve transport connections, enable the construction of up to 25,000-30,000 new homes along the route and provide 10,000 jobs.
This would also provide affordable, accessible and frequent connections to the Elizabeth line and other DLR services.
TfL have confirmed initial funding with Government while the Mayor has expressed his support for the project through his Transport Strategy.
KEY FACTS:
The three major landowners for this extension include:
■ Lendlease and Peabody (part of Thamesmead Waterfront JV);
■ Abrdn (formerly Aberdeen Standard Investments); and
■ St William (part of Berkeley Homes Group).
Gatwick to Kent Direct Rail Service
Gatwick-Kent Service
Enhancements
ASSET CLASS
Overground Rail
EST. VALUE
Requires costing
TIMELINE
Late 2020’s/early 2030’s
PLANNING STATUS:
Pre-feasibility
The Gatwick-Kent Service Enhancements proposes a direct rail link between Kent and Gatwick Airport, enhancing regional connectivity, reducing road congestion, and supporting low-carbon growth. This project involves improving the Redhill-Tonbridge Line to create seamless connections from key hubs in Kent to Gatwick, offering an alternative to road travel for commuters and airport passengers.
The Gatwick-Kent Service Enhancements are an essential investment opportunity, providing a sustainable transport alternative that reduces road congestion and improves access to Gatwick Airport.
Key next steps involve performance modelling and network assessments to ensure that the service integrates with existing schedules without impacting other services on the Brighton Main Line.
By benchmarking against similar successful services from the west, this project can create strong returns for investors while supporting regional growth and environmental sustainability.
WHAT’S THE BUSINESS CASE?
This project aims to reduce road journeys and improve the convenience of rail access between Kent and Gatwick.
The service can be benchmarked against similar services connecting Reading, Guildford, and Dorking to Gatwick Airport, highlighting opportunities for comparable usage and operational insights.
KEY FACTS:
■ Road Miles Reduction: Expected to reduce up to 1m road journeys annually.
■ Benchmarked Service: Can be compared to the Reading-Guildford-Dorking-Gatwick service.
■ Economic and Environmental Impact: Supports economic growth and contributes to the UK’s climate goals by reducing road congestion.
Heathrow Southern Rail Link
Heathrow Southern Rail Link
ASSET CLASS
Heavy rail
EST. VALUE
£1.3 - £1.7bn
TIMELINE
Early 2030’s
PLANNING STATUS:
Pre-feasibility,
Pre-Consultation
Heathrow Southern Railway (HSR) is a privately financed proposal to construct up to 8 miles of new railway from Heathrow’s Terminal 5 to the existing South Western network, connecting Southwest London, Surrey, and beyond. The project will allow direct trains from Waterloo, Clapham Junction, Guildford, Woking, and Basingstoke to Heathrow, enhancing airport access while reducing road congestion on the M25 and improving air quality.
HSR offers an outstanding investment opportunity with the potential for private financing and minimal taxpayer involvement. The rail link will support 3 million fewer road journeys per year, significantly reducing congestion on the M25, the busiest motorway in Europe. This shift from road to rail will result in the removal of around 2 tonnes of NOx and 8,600 tonnes of CO2 from the atmosphere annually, contributing to local air quality improvement and reducing the environmental impact of travel. The project also supports the UK’s netzero objectives and is poised to benefit from growing consumer demand for zero-emission public transport options, especially among airline passengers seeking sustainable travel solutions.
WHAT’S THE BUSINESS CASE?
The economic and societal benefits include enhanced connectivity between the South West, Surrey, and London, unlocking business growth opportunities and improving commuter routes. This strategic infrastructure will enhance access not only to Heathrow but also to key areas like Old Oak Common, providing connectivity to HS2 and the Elizabeth Line, supporting long-term regional development.
■ Environmental Impact: Avoids the release of 2 tonnes of NOx and 8,600 tonnes of CO2 p.a.
■ Connectivity: Direct trains from Waterloo, Clapham Junction, Guildford, Basingstoke, and beyond, providing a sustainable alternative to road travel.
■ Economic Impact: Facilitates business growth, improves commuter routes, and enhances Heathrow’s position as an international gateway for the South East.
Heathrow Western Rail Link
Heathrow Western Rail
Link
ASSET CLASS
Heavy rail
EST. VALUE
£1.5bn
TIMELINE
Early 2030’s
PLANNING STATUS:
Pre-Planning
The Heathrow Western Rail Link offers a transformative opportunity to invest in the UK’s strategic transport infrastructure. With clear economic, environmental, and societal benefits, this project is poised to enhance access to Heathrow Airport while fostering regional growth and addressing climate goals. Investors will benefit from a robust and sustainable infrastructure solution that promises long-term returns for the UK’s transport network.
It is designed to connect Heathrow Airport directly with the Thames Valley, South West, South Wales, and the West Midlands. This link will provide a faster, more efficient route to Heathrow, bypassing London Paddington. It is expected to deliver substantial economic, environmental, and transport benefits, such as reducing journey times and congestion on major motorways, and supporting the UK’s climate goals.
Funding commitments, including contributions from Heathrow Airport Limited (HAL), are crucial for moving forward.
WHAT’S THE BUSINESS CASE?
The Western Rail Link presents an exceptional investment opportunity for improving transport infrastructure. It will reduce journey times from key locations such as Reading (to 26 minutes) and Slough (to 6 minutes), resulting in £1.5 billion in efficiency savings, generating £800 million in additional economic activity, and creating 42,000 new jobs. Furthermore, it will contribute to reducing road congestion, with one million fewer road journeys and saving 5,200 tonnes of CO2 emissions annually.
KEY FACTS:
■ Efficiency Gains: £1.5 billion in savings anticipated, creating 42,000 new jobs.
■ Economic Impact: £800m in additional activity, through job creation across the Thames Valley.
■ Road Miles Reduction: 30m road miles eliminated annually.
■ CO2 Emissions: Expected reduction of 5,200 tonnes of CO2 annually due to modal shift.
High-Speed Rail Extensions (Kent, Medway, and East Sussex)
High-Speed Rail Extensions
ASSET CLASS
Heavy Rail
EST. VALUE
£2.7bn
TIMELINE
Late 2030’s
PLANNING STATUS:
Pre-Planning
This project aims to extend high-speed rail services to key towns in Kent, Medway, and East Sussex, such as Ashford, Hastings, and Dover.
The goal is to reduce journey times to London and other major cities, improving access to higher-value jobs and stimulating local economic growth.
This project is critical to transforming the economic landscape of coastal communities that suffer from poor connectivity and deprivation.
Feasibility studies are anticipated to commence in 2025 with a public consultation from mid-2025-early 2026.
WHAT’S THE BUSINESS CASE?
The high-speed rail extension is expected to drive £4.3 billion in economic benefits, largely through increased productivity, job creation, and inward investment in coastal and inland towns that are currently underserved.
Reducing travel times to London will also stimulate regeneration, particularly in more deprived areas like Hastings and Dover.
KEY FACTS:
■ Economic Benefit: £4.3bn over 20 years.
■ Journey Time Reduction: 30% reduction for key routes to London.
■ Passenger Increase: Anticipated 20% rise in ridership within five years.
■ Environmental Impact: Lowered carbon emissions by promoting rail over road travel.
■ Local Jobs Created: 2,500 during construction and operation.
HS2 Extension to Euston
HS2 Old Oak Common to Euston Extension
ASSET CLASS
High-speed rail
EST. VALUE
£6.5bn
TIMELINE
Post-2030
PLANNING STATUS:
Partially consented
The continuation of HS2 from Old Oak Common to Euston remains a strategic priority to maximise the benefits of high-speed rail for central London. Spanning c.4.5 miles, it was a crucial component of the original HS2 project.
Euston is a key terminus with major regeneration potential, offering seamless connections to the Underground, national rail, and Crossrail.
The extension will unlock housing, commercial development, and employment opportunities in the heart of the capital.
Key delivery partners include:
● Department for Transport
● HS2 Ltd
● Network Rail
● London Borough of Camden
● Lendlease
● Mace Dragados (MDJV)
● Skanska, Costain, Strabag (SCSJV)
● Greater London Authority.
WHAT’S THE BUSINESS CASE?
Extending HS2 to Euston will deliver a world-class transport interchange, catalyse regeneration in Camden, and support up to 10,000 new homes and 30,000 jobs.
The investment would also relieve pressure on the Tube and regional rail networks, while significantly boosting productivity through improved north-south connectivity.
KEY FACTS:
■ Economic Impact: Unlocks the wider Euston redevelopment zone with c.1.7m sq ft of high-value commercial space.
■ New Homes: Enables up to 10,000 new homes in Central London.
■ New Jobs: Up to 30,000 long-term jobs in the Euston area.
■ Efficiency Gains: Improves rail network capacity and travel times between London, Birmingham, and beyond.
KenEx Tram Link
KenEx Tram Link
ASSET CLASS
Light Rail
EST. VALUE
£900m
TIMELINE
Subject to funding and planning, delivery could be achievable by early 2030s.
PLANNING STATUS:
Feasibility and early stakeholder engagement underway.
The KenEx Tram Link is a proposed light rail scheme connecting Grays in Essex to Ebbsfleet in Kent, including a 1.2 km immersed tunnel beneath the River Thames.
The scheme is designed to provide sustainable, zero-emission, high-capacity transport in a corridor currently dominated by congested road routes.
A feasibility study has shown the proposal is both technically and financially viable, with significant potential to support housing delivery, job creation, and modal shift.
The project is being led by Thames Gateway Tramlink Ltd in collaboration with local authorities and stakeholders across both counties.
This tram/light rail-based transport mode also offers zero emissions at point of use, improves local air quality and aligns with the Government’s Levelling Up and Net Zero objectives, supporting modal shift and pressure on critical river crossings in the process.
WHAT’S THE BUSINESS CASE?
KenEx would improve cross-river connectivity, enabling more seamless journeys across two growth areas that are currently poorly linked by public transport.
The link could support thousands of new homes, reduce car dependency, and relieve pressure on the Dartford Crossing.
It’s also projected to unlock economic potential across the Thames Estuary, improve access to jobs and education, and enable significant regeneration across both North Kent and South Essex.
KEY FACTS:
■ Economic Impact: Supports growth by reducing travel times and improves access to key employment hubs.
■ New Homes: Up to 20,000 new homes across the Thames Estuary Growth Area.
■ New Jobs: Forecast to support creation of 7,000+ new jobs.
■ Efficiency Gains: Service every 3–4 minutes at peak. Journey times between Essex and Kent expected to be cut significantly.
Northern Line to Clapham Junction
Northern Line Extension to Clapham Junction
ASSET CLASS
Heavy rail / Underground
EST. VALUE
£800 - £1.2bn
TIMELINE
Feasibility and stakeholder engagement ongoing (2023–2025);
PLANNING STATUS:
Pre-Planning
The proposed extension of the Northern line from Battersea Power Station to Clapham Junction represents a highly deliverable scheme to enhance south-west London’s connectivity and unlock significant regeneration potential. A recent feasibility study commissioned by Wandsworth Council confirmed there are no major physical or geological barriers to construction, paving the way for the next phase of planning.
Designed with future extensions in mind, the existing Northern line terminus at Battersea Power Station (opened 2021) includes passive provision to support this onward connection. The scheme aligns closely with the London Plan, which identifies Clapham Junction as a growth hub suitable for major mixed-use intensification.
The Council is working with TfL, the GLA, and Network Rail on a wider vision to enhance station capacity, support new housing, and improve accessibility and multimodal integration at one of the UK’s busiest interchange stations.
WHAT’S THE BUSINESS CASE?
The extension would deliver:
■ Increased public transport capacity to meet growth in Wandsworth and the wider south-west London corridor
■ Modal shift away from road usage and relief for congested lines such as the Victoria and South Western Main Line
■ Greater network resilience and operational flexibility
■ Place-based uplift through housing delivery, station improvements, and economic intensification
KEY FACTS:
■ Economic Impact: Supports development of Clapham Junction as a strategic growth area within the London Plan Opportunity Area.
■ New Homes: Up to 2,500 homes enabled directly by improved transport access.
■ New Jobs: Estimated 2,500–3,000 jobs supported through station and area regeneration.
■ Efficiency Gains: Alleviates overcrowding on Southern and SWR services into Clapham Junction.
Solent to Midlands Rail Freight Upgrade
Solent to Midlands Rail
Freight Upgrade
ASSET CLASS
Heavy Rail
EST. VALUE
£600m
TIMELINE
Feasibility Studies
PLANNING STATUS:
Pre-Planning
The Solent to Midlands Rail Freight Upgrade aims to increase capacity and efficiency for freight services between the Solent ports and the Midlands.
The aim of this project is to encourage modal shift by making rail freight more efficient and attractive for businesses transporting goods between the Solent ports and the Midlands manufacturing hubs.
It involves the upgrade of existing rail lines, improving track capacity, enhancing terminal facilities at ports, and potentially developing new rail connections to better serve key industrial areas.
This project will improve the competitiveness of key industries, reduce congestion on roads, and promote more sustainable freight transport by shifting more goods from road to rail.
Feasibility studies are expected to be completed by early 2025 with public consultation scheduled for later in 2025. The earliest construction will start will be 2026 with completion targeted for 2029.
WHAT’S THE BUSINESS CASE?
The project is expected to generate £2bn in economic benefits by improving freight connectivity between the South East and the Midlands.
The rail upgrade will support local industries, reduce congestion on key highways, and lower CO2 emissions. By providing more reliable and efficient freight services, the project will enhance the South East’s role as a national transport hub, benefiting both regional and national economies.
KEY FACTS:
■ Economic Benefit: £2 billion over 15 years.
■ Freight Capacity: 30% increase in freight capacity on key routes.
■ Environmental Impact: Reduction of 100,000 tonnes of CO2 annually by shifting freight from road to rail.
■ Local Jobs Created: 1,000 jobs during construction and operation.
West London Orbital
West London Orbital (WLO)
ASSET CLASS
Overground Rail
EST. VALUE
£430-£610m
TIMELINE
Business case being developed
PLANNING STATUS:
Consultation
The West London Orbital project would make use of a combination of existing freight and passenger lines including the Dudding Hill Line, North London Line and Hounslow Loop.
The route would run for approximately 11 miles (17 km) from West Hampstead and Hendon at the northern end, to Hounslow at the western end via Brent Cross West, Neasden, Harlesden, Old Oak Common, South Acton and Brentford.
Feasibility studies have been completed and they are awaiting confirmation of funding to progress.
The West London Alliance group of local authorities have also expressed support for the West London Orbital Scheme and have confirmed that it will be incorporated into all Local Plans while Transport for London have developed a Strategic Outline Business Case for the scheme with a more detailed business case being developed in the near future.
WHAT’S THE BUSINESS CASE?
The project will improve rail connectivity across West and North-West London and establish a number of new connections to existing radial rail infrastructure including Thameslink, the Jubilee line, the Bakerloo line, High Speed 2, Crossrail and the Piccadilly line.
By making better use of existing infrastructure, the WLO would deliver a host of benefits including catalysing and accelerating new housing and jobs, linking areas of deprivation with work and leisure opportunities, relieving congestion, improving the environment and helping to unleash West London’s economic potential.
KEY FACTS:
■ Economic Benefit: WLO will unlock the potential of areas like Old Oak Common and Brent Cross regeneration zones.
■ New Homes: 4,000 additional homes to be built.
■ Journey Time Reduction: WLO has the potential to reduce car journeys by 582,000 annually.
