Transport for London is to raise millions of pounds by selling off or developing a significant proportion of its land holdings. The money will be used to fund future transport schemes.

A review of its whole estate has been launched, which will eventually give an overview of the value of the land as well as potential uses for key sites.

Anthony Bickmore, a former director of urban projects at developer Crown Estates, has taken up the newly created role of head of property development.

A spokesperson for TFL said the body decided it had to become more active.

He said: 鈥淲e need to optimise our estate and develop the sites. We have a large portfolio and we have to see if we can use it to our advantage.鈥�

  • London mayor Ken Livingstone has announced he wants to push through plans for the redevelopment of the West End.
The mayor will set up a working group to push forward proposals from a special commission set up last autumn to find a way of reviving the fortunes of Oxford Street, which have been affected by increasing competition.