Abandoned Tube stations and tunnels to be sold off as tourist attractions

TFL is reportedly planning to invite companies to bid to transform the abandoned spaces

Aldwych is one of the Tube network's derelict stations (AFP/Getty)

They are the subject of fascination for many Londoners – but disused Tube stations are set to be sold off for more lucrative purposes.

Transport for London (TFL) is planning to invite companies to bid to convert the abandoned spaces into tourist attractions including hotels, shops and museums, the London Evening Standard reported.

There are at least 40 derelict Overground and Underground stations, as well as hundreds of old horse tunnels snaking deep below the capital.

And TFL, who owns 750 of the tunnels, is said to be in talks over whether it should invite construction firms to bid for a single site to begin the project, or for a group of the vacant subterranean spaces.

Tube stations have been closed for a variety of reasons over the years, ranging from low passenger numbers to re-routing. One of the most famous locations is Aldwych, which was used to hide the National Gallery's collection during the First World War and then British Museum artefacts during the Second World War.

The rejuvenation idea was first proposed in 2009 by former banker Ajit Chambers, who estimates that an untapped £3.6bn is harboured by the network.

Chambers came up with the idea after finding a map detailing the 26 “ghost stations” concealed within the Tube network. He identified several that could potentially be transformed and formed start-up The Old London Underground Company.

After meeting with London Mayor Boris Johnson in 2011, Chambers identified 34 sites suitable for his project. The first stage encompasses 13 of these, with plans to convert them into arts galleries, nightclubs and, potentially, a National Fire Brigade museum.

However, TfL has said there is “no affiliation” with the Old London Underground Company.

A spokeswoman for TfL said: “We cannot show any prejudice ahead of a public tender.”