The launch of the night tube on the Piccadilly Line tonight will provide pubs, bars, restaurants and clubs in the parts of London able to reap the highest potential rewards, according to research soon to be published in an edition of the ALMR/CGA Peach Future Shock series of reports.
The launch is the final phase of current scheduled plans for the 24 hour tube and – according to research by CACI – will enable the highest relative economic benefit. The research ranks all zone 1 and 2 stations by the potential economic impacts, taking account of the proximity of more than 3,000 venues near tube stations on the night tube initiative.
ALMR Chief Executive, Kate Nicholls, said:
“Of the 15 top ranked stations, a third are on the Piccadilly Line, including the top two – Leicester Square and Piccadilly Circus – and Green Park, which is a key interchange between three of the 24 hour lines.
“Leicester Square alone has 11.5 times the night-time potential compared to an average tube station. So the Piccadilly Line night tube is the final piece in the jigsaw that will hopefully benefit a hospitality trade that otherwise faces many pressures – this is a welcome positive.”
The forthcoming Future Shock report, to be published jointly by the ALMR and CGA Peach, presents research, narrative and opinion on current and forthcoming issues affecting the hospitality sector.