The Garden Bridge Strategic Outline Business Case May 2014 Contents 1. Introduction ................................................................................................................ 8 1.1 Description ................................................................................................................. 8 1.2 Five case model .......................................................................................................... 8 2 The Strategic Case ...................................................................................................... 9 Part A: The strategic context..................................................................................................... 9 2.1 National policy context ............................................................................................... 9 2.2 Regional policy context ............................................................................................. 12 2.3 Local policy context .................................................................................................. 23 Part B: The case for change ..................................................................................................... 25 2.4 Problem: Quality of the pedestrian environment on existing bridges in central London ..................................................................................................................... 25 2.5 Problem: Poor access onto Waterloo and Blackfriars bridges from the Thames Path 29 2.6 Problem: Missing link between Waterloo and Blackfriars bridges for pedestrians ...... 30 2.7 Problem: Underground access to the South Bank area .............................................. 32 2.8 Problem: Onward distribution of passengers from Waterloo station ......................... 33 2.9 Problem: Supporting economic activity and development on the north bank............ 36 2.10 Opportunity: maximising Waterloo Opportunity Area’s development potential ....... 38 2.11 Opportunity: Provide new park space in central London ............................................ 39 2.12 Opportunity: Supporting growth in the London economy by encouraging and protecting tourism revenues ..................................................................................... 25 2.13 Opportunity: Showcasing UK expertise and innovation in engineering, design and landscape .................................................................................................................. 40 2.14 Opportunity: Supporting the UK’s internationally renowned creative sector ............. 42 2.15 Objectives ................................................................................................................. 43 2.16 Options..................................................................................................................... 45 3 The Economic Case .................................................................................................. 59 3.1 Introduction .............................................................................................................. 59 3.2 Assessment of benefits ............................................................................................ 59 3.3 Journey time (walk time savings) ............................................................................... 60 2 3.4 Journey quality (ambience) ........................................................................................ 62 3.5 Severance ................................................................................................................. 65 3.6 Crowding .................................................................................................................. 69 3.7 Road safety ............................................................................................................... 71 3.8 Air quality: pedestrian exposure to pollution ............................................................. 73 3.9 Physical activity ......................................................................................................... 78 3.10 Business and property impacts.................................................................................. 80 3.11 Showcasing Britain .................................................................................................... 85 3.12 Job Impacts .............................................................................................................. 88 3.13 Tourism revenue ....................................................................................................... 91 3.14 Costs ........................................................................................................................ 93 3.15 Cost : Benefit ratio (BCR) ........................................................................................... 95 3.16 Appraisal summary table ........................................................................................... 96 3.17 Scope ........................................................................................................................ 98 3.18 Main risks .................................................................................................................. 98 3.19 Constraints ............................................................................................................... 99 3.20 Dependencies ........................................................................................................... 99 3.21 Stakeholders ............................................................................................................. 99 4 The Commercial Case ............................................................................................. 101 4.1 Introduction ............................................................................................................ 101 4.2 Required services and contractual arrangements ..................................................... 101 4.3 Procurement strategy .............................................................................................. 101 5 The Financial Case .................................................................................................. 103 5.1 Introduction ............................................................................................................ 103 5.2 Scheme cost ........................................................................................................... 103 5.3 Funding ................................................................................................................... 104 5.4 Impact on TfL ......................................................................................................... 105 6 The Management Case ............................................................................................ 106 6.1 Introduction ............................................................................................................ 106 3 6.2 Garden Bridge Trust ................................................................................................ 106 6.3 Transport for London’s role .................................................................................... 106 6.4 Trust Directors ........................................................................................................ 107 6.5 Responsibilities of the Garden bridge Trust ............................................................. 109 6.6 Garden Bridge Trust Management Team .................................................................. 110 6.7 Project management arrangements ......................................................................... 111 6.8 Governance and project Management arrangements ............................................... 112 6.9 Project plan ............................................................................................................. 116 6.10 Use of special advisors ........................................................................................... 117 Appendix A – Journey time saving calculations ..................................................................... 119 Appendix B – HEAT tool health benefit calculations ............................................................. 121 Appendix C – business/property benefit calculations ............................................................ 123 Appendix D – tourism benefit calculations ............................................................................ 132 Appendix E – benchmarking with the High Line, New York ................................................... 134 Appendix F – Further supporting information ........................................................................ 136 4 List of tables Table 1 London Plan policies ............................................................................................... 13 Table 2 Mayor's Transport Strategy policies ......................................................................... 18 Table 3 Mayor's Transport Strategy proposals ...................................................................... 21 Table 4 Project objectives mapped against identified problems and opportunites ................ 44 Table 5 Performance of Option 1 against objectives ............................................................ 46 Table 6 Performance of Option 2 against objectives ............................................................ 49 Table 7 Performance of Option 3 against