Transport for London (TfL) has published details of all expenditure over £500 for the first time, after mayor of London Boris Johnson endorsed the transparency initiative launched by Prime Minister David Cameron.
Top of the expenditure list is the purchase of land and buildings from law firm Eversheds for more than £34M.
The £34,779,000 purchase relates to the major redevelopment of Bond Street station as part of the Crossrail project, for which TfL purchased the properties at 354-358 Oxford Street.
The second most expensive item of expenditure is the purchase of plant and equipment from Bombardier Transportation, which accounts for £17,323,074.83 of spending. A second purchase of plant and equipment from Bombardier is also in the expenditure top five, costing £10,045,591.25.
Other top expenditure items in the list include contracts to bus franchise operators, which account for six of the top ten. The largest among these is the £12,646,708.98 paid to the Metroline franchise.
Payments to the operator of the London Overground rail services also feature in the top ten of payments. The rail operator, which is a joint venture company between the MTR Corporation based in Hong Kong and Deutsche Bahn of Germany received more than £8M in a concession fee.
The top ten of payments is:
Eversheds LLP Purchase of Land & Buildings £34,779,000.00
Bombardier Transportation Plant & Equipment Purchases £17,323,074.83
Metroline Travel Bus Contract Payments £12,646,708.98
Arriva London North Bus Contract Payments £11,567,925.46
Bombardier Transportation Plant & Equipment Purchases £10,045,591.25
Stagecoach Services Bus Contract Payments £9,668,797.22
London General Transport Bus Contract Payments £8,439,384.23
London United Busways Bus Contract Payments £8,367,183.13
LOROL Franchise/Concession Fixed Fee £8,168,336.73
Centrewest Bus Contract Payments £7,881,097.92
London Central Bus Bus Contract Payments £6,935,939.46
A full list of the published spending, which covers the period between 14 November 2010 and 11 December 2010 is available here.
Of the purchase from Eversheds, a TfL spokesperson said: “In November 2010, TfL purchased properties at 354-358 Oxford Street to facilitate the major redevelopment of Bond Street station. Works at Bond Street will include a new station entrance on Marylebone Lane, an expanded ticket hall to increase capacity, new escalators serving the Jubilee line, new lifts to provide step-free access from street to platform, and an interchange to facilitate Crossrail services in the future. The payments for these properties are being managed by TfL through legal firm Eversheds LLP.”