Bakerloo Line extension
Transport for London (TfL) have recently announced that their preferred route for the Bakerloo line extension to Lewisham from Elephant & Castle is now via Old Kent Road. If a decision is made to progress the scheme following further investigations, and the necessary funding is secured, it is anticipated that construction could commence in around 2023 with completion in approximately 2030.
The route via Old Kent Road was identified as having the strongest case of the various options explored, not least because of the high growth potential with the possible creation of up to 20,000 new homes being identified. A future phase beyond Lewisham will also be further considered in collaboration with stakeholders including Network Rail.
The extension would significantly improve public transport in south east London as well as vastly improving the connectivity of the area with the centre of London. Consequently the extension is likely to create a prime location for development in the years ahead. We are likely to see increased demand both for new build homes and for the refurbishment of existing properties much earlier than 2023, as values respond to the proposed transport improvements.
For further details see https://consultations.tfl.gov.uk/tube/bakerloo-extension