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In the 1990s it was decided that rather than re-equip Lots Road, it would continue to operate until the machinery was life expired. It remained in operation until being shutdown on 21 October 2002. From that time on all power for the tube system was supplied from the National Grid. The site is at grid reference TQ264770.

Redevelopment
The property company which now owns the site wishes to convert the station into shops restaurants and apartments and to construct additional buildings, including two skyscrapers on the adjoining vacant land. This scheme is presently on hold because Kensington and Chelsea Council refused planning permission for one of the towers. The other, which is actually the taller of the two, has been granted permission by Hammersmith and Fulham Council, but the developer is unwilling to proceed without permission for both towers, and may take the matter to a public enquiry.

Circadian, the joint venture partnership between Taylor Woodrow and Hutchison Whampoa, were granted planning permission by the Deputy Prime Minister (First Secretary of State, John Prescott) in January 2006. This decision was a result of a public inquiry held during the month of February 2005, which closed on 26th April 2005. The Royal Borough of Kensington and Chelsea (RBKC) refused permission for the scheme in November 2003. Circadian launched an appeal to the First Secretary of State in March 2004. At the same time, Circadian also requested the Government Office for London (GOL) to call-in the portion of the scheme located in the London Borough of Hammersmith and Fulham (LBHF). Both parts of the overall development site were heard at the same inquiry in front of an Inspector.

The Inspector concluded that the scheme met all Planning Policies in relation to land use, density, impact on residential amenity, transport policy, housing policy, mix of uses, environmental impact, open space provision and was of high quality design. The First Secretary of State in granting his permission agreed with the Inspector on these issues and was mindful of the support for the scheme from the Mayor of London, Commission for Architecture and the Built Environment (CABE), English Heritage and the London Borough of Hammersmith & Fulham when considering reservations expressed by the Inspector on the height of the tallest building on the scheme and its effect on local views.