A paper published in December states:
Following an initial public consultation on a proposed Bakerloo line extension (BLE) in autumn 2014 and a subsequent assessment of possible route options, an extension to Lewisham via the Old Kent Road and New Cross Gate has been identified as the preferred option. A second public consultation is now proposed as the next step towards delivering the BLE. The delivery of this extension was included in the Mayor’s manifesto and would support the delivery of significant numbers of new homes and jobs for London.
The consultation exercise would start in early 2017 and run for ten weeks. It would engage with the public and stakeholders on the options for locations of stations and ventilation/intervention shafts including the worksites at each. The consultation will include the relevant local authorities as well as engagement with stakeholders and landowners of sites affected.
The consultation will provide the opportunity for responses on each of the following parts of the route:
(a) Elephant and Castle station – an upgraded ticket hall and platform concourse is required to accommodate extension demand
(b) Old Kent Road 1 station – a new Tube station in the northern area of the Old Kent Road to serve the growth cluster in this part of the Opportunity Area
(c) Old Kent Road 2 station – a new Tube station in the southern area of the Old Kent Road to serve the second growth cluster in the Opportunity Area
(d) New Cross Gate station – a new Tube station providing interchange to the London Overground and National Rail services at the existing station
(e) Lewisham station – a new Tube station providing interchange to the National Rail and DLR services at the existing station
(f) Ventilation and intervention shafts – three shafts are proposed, one between Elephant and Castle and Old Kent Road 1 stations, one between New Cross Gate and Lewisham stations, and one at the line end overrun tunnels beyond Lewisham station
This provisional work indicates circa £1bn could be raised from [a range of sources including commercial development of the station sites, increased fare receipts, business rate levies, etc], covering roughly a third of the scheme costs. This is a positive start and we will further develop the approach to maximising funding from all available sources and investigating further potential land value capture options. As is common for infrastructure projects of this size and scale the funding for construction of the BLE will outlined in future revision of the TfL Business Plan.
Thank you to Monkeyboy for sending the details.