Transport for London is to raise millions of pounds by selling off or developing a significant proportion of its land holdings. The money will be used to fund future transport schemes.
A review of its whole estate has been launched, which will eventually give an overview of the value of the land as well as potential uses for key sites.
Anthony Bickmore, a former director of urban projects at developer Crown Estates, has taken up the newly created role of head of property development.
A spokesperson for TFL said the body decided it had to become more active.
He said: “We need to optimise our estate and develop the sites. We have a large portfolio and we have to see if we can use it to our advantage.”
- London mayor Ken Livingstone has announced he wants to push through plans for the redevelopment of the West End.