TfL In-Station Retail
SRC is working with TfL's In-Station Retail team to help prepare retail spaces in train stations for commercial use.
The In-Station Retail team is responsible for all retail units within TfL stations, currently over 800 properties with further opportunities for retail development. In-Station Retail is hugely important to TfL as one of their three primary revenue generators, alongside the sale of tickets and advertisement opportunities for other companies. Ensuring retail opportunities within stations are capitalised on is therefore of vital importance to TfL in order to maximise their revenue.
SRC Infrastructure is supporting TfL across multiple In-Station Retail projects with project delivery, engineering and assurance. SRC has specialist technical, commercial and delivery expertise and resources that are supporting the TfL team in delivering the best possible commercial outcomes as part of their ISR programme.
SRC's work on ISR falls into two categories - making improvements to existing retail spaces, and the creation of new retail spaces. SRC have supported the ISR team in their mobilisation of multiple retail voids across various different stations.
Retail voids are empty units within stations that can be let to retailers once prepared. SRC are helping to mobilise these units by providing reports of the void's conditions, including their electrical and fire-safety condition. This then allows TfL to rent the spaces to retailers, knowing the spaces are appropriate for commercial use.
SRC also provide assurance for the fit-out designs of new retail spaces to ensure fire and electrical safety, ensuring they are fit to be sold to a retailer.
SRC's work on In-Station Retail is helping drive revenue for TfL, enabling with the capability to potentially, one-day become a self-funding organisation. As well as helping TfL to generate revenue, the work SRC is doing on the ISR programme is also helping to create jobs in London and improve the customer experience for travellers.