Big-name brands plan for shops on the Underground

Forget dingy dry cleaners and shoe repairers, Transport for London is planning a retail makeover across its Tube stations.

It is tapping up retailers, including department store John Lewis and coffee shop Caffe Nero, amid plans to ditch run-down outlets in favour of big-name brands.

It wants to make more money from the 1000 shops across its Underground station network. The shops already bring in around £23 million in rent each year.

Property Week magazine revealed property agent Cushman & Wakefield has been hired by TfL to draw up plans for the revamp. These include offering greater incentives for retailers to sign longer leases.

Graeme Craig, TfL’s commercial development director, said: “In the past, it was felt that retail is a secondary activity in stations, yet it has a huge role to play in helping them meet the needs of passengers that travel on London transport.”

TfL has held talks with WH Smith and Caffe Nero and is targeting John Lewis and Tesco among others.

In January, TfL set up a commercial development division tasked with generating higher returns from non-ticket revenues and improving the look and feel of its property portfolio which includes more than 400 Tube and overground stations and 19,000 bus stops.