The Lambeth Council’s decision to award planning permission aimed at restoring the former Eurostar terminal at the Waterloo Station is expected to impact the London property market in a big way.

The plan is to create 135,000 sq ft of space for a mix of independent, high street and food stores, spread across three floors, including a mezzanine level. The modern retail facilities are expected to create 700 new jobs and contribute to the local economy.  It will also contribute to the growth of local business and wider regeneration of the Southbank and Leake Street.

The retail facilities to be provided are said to be on par with the quality offered at Birmingham New Street and St. Pancras International. The approval was given following an extensive engagement programme with local communities, councilors and officers at Lambeth Council.

The decision to restore the Eurostar terminal will impact the property around Waterloo station positively. The property prices are expected to increase significantly in the area, as investors are expected to acquire assets. The rents in the area are also expected to increase correspondingly, as demand for homes will improve.

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