CROSSRAIL HOTSPOTS

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PROFITS FOLLOW RAIL.

Crossrail which is Europe’s largest infrastructure project has been in progress in London for some time already and still owners and investors, not to forget the estate agents London, are collecting benefits from the property hotspots created in its’ wake.
In some of these areas along the new rail route, from 2010 and 2018 upturns are expected to be as high as 45%.
It is expected to create a greater impact than the last Tube extension to the Jubilee and East London lines.
Woolwich and Canary Wharf are specifically mentioned and parts of outer London, such as Berkshire and Essex will benefit a lot as well.

TRANSPORT-LED REGENERATION.

Transport-led regeneration is the single most important factor in boosting the value of our homes. In key places along the route, prices are likely to outperform the rest of London and may rise by 45 per cent between now and when trains start running in 2018, according to new analysis by property consultancy Jones Lang LaSalle.

While neighbourhoods around the five new central London stations may see the greatest price lift, outer London locations and homes in Berkshire and Essex will benefit too. Ealing in the west and Woolwich in the east are also tipped for strong growth, as is Canary Wharf, which for the first time will have a direct link to Heathrow. Thousands of new homes are expected around Royal Arsenal Riverside in Woolich. How much we wonder, will this affect houses for sale in Islington?
Unknown Old Oak Common, with its exciting development plans led by top architect Terry Farrell, in north-west London, is poised to become a transport super hub, and another predicted hotspot.

WAKE UP CALL.

People are waking up to the infinite possibilities of Crossrail,” says JLL’s Adam Challis. “Though launch day is some way off, the construction upheaval around London and our new stations is a reminder of Crossrail’s scale.”
Running 118 kilometres from Maidenhead in the west, through new twin-bore tunnels under central London to Shenfield in Essex, Crossrail will increase London’s rail capacity by 10 per cent and carry about 200 million passengers a year. This is a compelling prospect for early bird property buyers and investor.

THE CROSSRAIL FACTOR.

Not only are residential properties climbing the band wagon, it has triggered speculative development such as a new 1.2 million sq ft Goldman Sachs headquarters moments away from the architecturally appealing Farringdon station.
The “Crossrail factor” is already driving property investment in London, says Mike Taylor, director of analyst GVA Grimley. As well as being transport interchanges, Crossrail stations will be business hubs, with more than three million square feet of new offices, and shops, with homes built above and beside.
“Over-site” schemes with a residential element are under way at Davies Street and Hanover Square in Mayfair and on Charing Cross Road, opposite Centre Point. Whatever you may have in mind, be sure to liase with your Nelsons estate agents in London.

THE CULTURE LINE ARTS PROGRAMME.

To help cement Crossrail in the public mind, an arts programme called The Culture Line has been unveiled. This brings together artists, architects and engineers to create exhibitions and permanent works at new stations. The first commission is A Cloud Index by Spencer Finch, to be embedded within a spectacular 400ft long glass canopy above the concourse at Paddington station.
Be alert, watch the crossing of the Rails.