London Entrepreneur Sees Gold Mine in Unused Subway Stations – Bloomberg

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A former JPMorgan Chase & Co. executive aims to turn 26 unused London subway stations and bomb shelters into shops and tourist attractions after raising 200 million pounds $319 million from investors.

Ajit Chambers, chief executive officer of Old London Underground Co., met Mayor Boris Johnson yesterday to discuss the plan. Chambers agreed to provide more information on potential sites, costs and the work needed to convert the stations, according to an e-mail from Johnson’s office.

“We’ve set up the construction teams, the finance availability and the investment to renovate underground space,” Chambers said in an interview. He declined to identify the investors.

Old London Underground plans to open the first site, Brompton Road station, in time for the 2012 Olympic Games in east London, Chambers said. The station, owned by the Ministry of Defence, has been shuttered since the mid-1950s after serving as the headquarters of southern England’s anti-aircraft defenses during World War II.

via London Entrepreneur Sees Gold Mine in Unused Subway Stations – Bloomberg.

Strange Random Subway Quote:

“The words of the prophets
are written on the subway walls
and tenement halls
and whispered
in the sounds of silence”

Paul Simon (American Singer and Song Writer, b.1941)

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Posted on September 9, 2011, in Article and tagged , , , , , , , , , . Bookmark the permalink. Leave a comment.

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