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Camden Council approves plans to reopen the historic Kingsway Exchange Tunnels

The London Tunnels PLC (the “Company”), established to transform a former World War II tunnel complex in the centre of London into a major tourist attraction, is pleased to announce that today the London Borough of Camden has passed a resolution to grant the Company planning permission for its development plans. The decision follows the approval to change the Kingsway Exchange Tunnels (the “Tunnels”) into a visitor and cultural attraction by the City of London Corporation on 11 June 2024.

The granting of these permissions brings the opening of the Tunnels to the public one step closer. It is also further proof of the support and confidence in the landmark scheme from the two lead planning authorities, which have recognised how the project will support their policy aspirations.

Angus Murray, Chief Executive Officer, The London Tunnels PLC said: “We are pleased to have received confirmation that this important resolution was passed today, bringing us one step closer to realising our plans to develop this historically important tourist attraction in the heart of London. London is already widely recognised as one of the most visited cities in the world,  and this unique development will only enhance its appeal. We look forward to working with local authorities, residents, heritage organisations and other stakeholders to bring these tunnels back to life.”

The Company appointed a project team of experienced consultants led by WilkinsonEyre architects with Montagu Evans providing planning and heritage consultancy. During the next six to twelve months, the Company will continue with design studies, engineering analysis, architectural studies and cost planning.

ABOUT THE LONDON TUNNELS

The Company was founded to preserve and transform the Tunnels, built as part of the United Kingdom government’s strategy to protect its citizens from bombing during what became known as the London Blitz, into a major tourist attraction targeting up to 3 million visitors per year. The mile-long series of tunnels have been kept secret for nearly 70 years. Right in the centre of the London, one of the most visited cities in the world, the Tunnels are envisaged to become the capital’s most spectacular underground tourist attraction, offering a combination of historical heritage experiences and a cultural, multi-sensory, digital experience. The Company is listed on Euronext Amsterdam under the ticker symbol TLT. For more information, please see: www.thelondontunnels.com

FOR MORE INFORMATION

CFF Communications
Uneke Dekkers
uneke.dekkers@cffcommunications.nl
+31(0)650261626

Tavistock
Jos Simson / Rebecca Hislaire
thelondontunnels@tavistock.co.uk
+44 (0) 20 7920 3150

London Communications Agency
Flora Cowie
fc@londoncommunications.co.uk
+44 7771 985 163

Important legal information

This press release may contain inside information within the meaning of Article 7(1) of Regulation (EU) 596/2014 (Market Abuse Regulation).

This press release does not constitute or form part of, and should not be construed as, an offer of securities nor a solicitation to make such an offer, in any jurisdiction. The press release neither constitutes investment advice or recommendation with respect to any securities of the Company, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any purchase of or subscription for securities of the Company shall be based solely on each investor’s own analysis of all public information, the assessment of risk involved and its own determination of the suitability of any such investment. No reliance shall be placed, and no decision shall be based, on this document.

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This announcement may include statements that are, or may be deemed to be, “forward-looking statements” including its financial targets and objectives relating to the business, financial performance, results of operations, financial condition, liquidity, prospects, growth and strategies and results of the Company and industry in which it operates. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “targets”, “anticipates”, “expects”, “intends”, “may”, “will”, “forecast” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Any forward-looking statements reflect the Company’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth and strategies. Forward-looking statements speak only as of the date they are made.