An underpass will be transformed with local hotspots.
Lambeth Council have signed off on plans to improve Waterloo Undercroft with a food market. The BFI underpass will include a food court, bars, and event spaces. The council agreed to lease the space to Thrale Investments – the team behind Flat Iron Square, Vinegar Yard, and Hackney Bridge in Hackney Wick.
The underpass will feature a variety of spaces, primarily a large food court accommodating up to 1,200 customers. This move will create numerous job opportunities and a new community space, enhancing an area that experiences high daily foot traffic.
The project aims to begin opening in stages, starting from December 2025, and is expected to remain open for a minimum of 10 years.
Cabinet Member for Economic Inclusion, Councillor Marcia Cameron, said: “We’re moving forward with plans to improve the wider Waterloo area, transforming this cultural hub into a more accessible, welcoming, and thriving space. One key initiative is bringing underused areas – like the undercrofts – to life as part of our Night-time Strategy. This will help expand Waterloo’s vibrant late-night scene and support the local economy by creating new cultural spaces.
“This project will also deliver vital public improvements to the underpasses, including better lighting and clearer signage. These changes will help reduce anti-social behaviour, particularly at night, and enhance the overall experience for both residents and visitors.”
Lambeth Council are in further conversations with local stakeholders to improve the visitor experience around the proposed new venue, with plans to make it easier for visitors to navigate the tunnels. This will include better lighting, improved signage, and more – in a desperately needed move to regenerate the underpass.
This new food market in Waterloo is likely to be a very popular addition for locals and visitors alike.
GO: Visit www.lambeth.gov.uk for more information.