Used by the Cabinet Office and Winston Churchill during World War 2, the station has been mothballed since May 1932 and is now used only by maintenance workers needing access to the Tube network and the London Transport Museum which hosts occasional tours.
Transport for London has hired architects to develop plans which would see parts of the station brought back into use while segregating those areas needed for operational purposes and the museum.
If the project is successful Tube bosses could develop additional sites, helping them achieve their goal of generating £3.4bn in non-fare revenue over the next decade.
Today’s plans are the latest in a series of commercial ventures by TfL which has also signed deals with major supermarkets and retailers to offer ‘click and collect’ lockers at some stations.
Companies are being invited to register their interest in working with TfL on the Down Street project. The organisation will then consider all bids before picking a partner later this year.
Graeme Craig, TfL’s Director of Commercial Development, said: “The combination of space, history, and location, makes this a unique opportunity.
“We are looking for a partner with the imagination to see the potential here and the capability to deliver it.”
“Adjoining parts of the station are still required for running the Tube, but we will work with interested parties to ensure the commercial and operational activities can happily coexist.”
