Earlier this week we reported that Barclays were in funding discussions with the Mayor of London’s office and Transport for London over the bank providing more sponsorship funds for London’s cycle hire scheme.
Well those talks have concluded and Barclays have agreed to provide another £25m sponsorship to the cycle hire scheme taking Barclays total investment in the scheme to £50m.
The extra funding will help the cycle hire scheme expand throughout west and south west London by the summer of 2013 under third phase expansion of the project, and also sees Barclays’ sponsorship of the scheme extended by three years to 2018.
With the new Barclays money on board, Boris Johnson, the Mayor of London, has instructed Transport for London to prepare plans for the expansion of the scheme through the boroughs of Wandsworth, Hammersmith & Fulham, Lambeth and Kensington & Chelsea. A final decision on the phase three extension of the scheme is pending the agreement of The Transport for London board at their next meeting on September 21.
Additionally, the Westfield London shopping centre, which is in Shepherds Bush and to the West of Central London, is to provide funding that will see the Barclays Cycle Hire scheme coming to the shopping centre by spring 2012.
Approximately twelve new docking stations will connect the existing cycle hire zone to Westfield White City and six docking stations will potentially be on the grounds of Westfield London itself.
Plans for the east
The extension of the cycle hire scheme westwards is on top of plans to have the scheme up and running in areas in the East of London, including docking stations in Bethnal Green, Bow, Canary Wharf, Mile End and Poplar, by the spring of 2012.
At that stage the scheme will cover around 65km² of the Capital and around 8,000 hire bikes will be available from 14,400 docking points across central and east London.