Lost your ticket … office?

There is set to be a change at every London Underground station in the future as a leaked document states that ticket offices are to be removed. Passengers will instead be required to use ticket machines or prepaid travel cards. 

Naturally, the closure of ticket offices will result in the loss of jobs across the capital; the number of ticket offices amounts to 268, with 2,000 jobs being affected. The plans are part of bigger cuts within the Transport for London remit, and it is estimated that as many as 6,000 jobs will be lost on rail and underground operations by 2020. 

Whether such job losses will be absorbed by an improving London economy is yet to be seen. Many of these workers will have felt relatively secure in their employment until recent times. It is possible that the day-to-day lives of Londoners, including workers and tourists, will be disrupted over coming months as well, as a result of strikes in protest at the proposals. Already, recently, there has been a 48-hour strike by London Overground conductors, who are objecting to driver-only operated trains. The strikes naturally have a significant impact on those trying to get to and from their London offices, which in turn affects the operation of the economy of the capital. 

Eugene O’Sullivan, of Morgan Pryce, comments: ‘We cannot know yet what the ticket offices would be used for, although it is possible that more revenue could be generated by turning them into retail space – depending on where they are situated.’ He adds, ‘Many passengers will find it difficult to come to terms with increase in ticket prices, however, when they can see cuts like this taking place.’

Passengers appear not to be in favour of the removal of ticket offices – and if strikes stop them getting to work, they may become even less in favour. 

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.