Wednesday 12 April 2023

The City of London Chamber of Commerce has decided to back the redevelopment of Liverpool Street Station. The proposal is in line with the needs of a contemporary global city which needs high-quality connectivity to key business destinations.

The Chamber announced its support in a letter to Sellar, developer of the station alongside train operator MTR and Network Rail. The redevelopment proposal will transform the station into a world-class transport hub and will have a direct and positive impact on London’s business growth.

The City of London is the world’s premier financial service. It is home to major banks, financial and professional institutions as well as 24,000 small and medium sized enterprises (SMEs). Therefore, it is the City of London Chamber which provides the forum for Square Mile businesses to network and campaign on key issues.

The Central Business District, which includes the Square Mile, generates close to £70 billion in economic output annually which makes the need for a seamless passenger experience at Liverpool Street station a key objective to boost business growth, tourism, and connectivity.

Alderman Prem Goyal, Chair of City of London Chamber of Commerce said:

“Businesses in the City of London rely on the key rail terminuses in the capital. Liverpool Street station is the main terminus for passengers to arrive from London Stansted by rail. A redeveloped station will act as a major gateway to the City from Essex, Berkshire and across Greater London as well as for Heathrow and Stansted airports.

With increased demand for travel to and within London, the redevelopment aims to future-proof the station's capacity. To meet the needs of today as well as those of the future, we need an enhanced Liverpool Street Station that further enables people to move from car to rail and ensure London becomes a net zero metropolis and remains a major gateway for the City”.

The City of London Chamber proposes significant improvement to signage around the London Underground entrances of the station. The direction from Broadgate is inadequate and frequently leads to confusion amongst passengers trying to locate access to the London Underground network.

The redevelopment project is expected to have a significant and positive impact on the local economy, with the creation of new jobs during the construction and operational phases, and the potential for increased economic activity in the surrounding area.

The project goes a long way to help achieve the Corporation of the City of London’s vision in ensuring the City is seen as a Destination City for tourists and business travellers.

ENDS