Category: Crossrail (11)

The FT reports on how London’s economic geography has changed in the 21st century. The inner city has developed rapidly. Its core is growing faster than its periphery. Immigration from around the world is part of this story, but so too is the influx of younger people of childbearing age, attracted to the lifestyles of gentrified inner areas such as Hackney and Lambeth and their improving schools. There has been a new, diverse baby boom in the capital. And unusually, the past 10 years have seen more people arrive in inner London from the rest of England and Wales than leave.

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Interesting video from CBRE looking at new research on the effect Crossrail will have on house prices in London.

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Click image to view video

Crossrail has completed the construction of the first of its new train tunnels under London. It comes as Crossrail’s tunnelling machines reach the 13 mile point in their 26 mile marathon tunnel build.

Crossrail tunnelling machine Phyllis has finished the project’s first train tunnel, 17 months after commencing her 4.2 mile (6.8 km) journey from Royal Oak in west London and Farringdon in central London.

First Crossrail tunnel completed

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Consultancy Jones Lang LaSalle have been looking at the effect on house prices of London’s massive Crossrail project, and are predicting price rises in some neighbourhoods of as much as 44% by 2018. The east-west rail link through the capital, and Europe’s largest infrastructure project, will cause more property ripples, and have a bigger impact on London, than even the latest Tube extensions to the Jubilee and East London lines.

Click to go to Evening Standard story

Click to go to Evening Standard story

Today the London Independent has published photos of progress at Crossrail. The £14.8bn project, slated for completion in 2018, will connect Maidenhead and Heathrow in the west to Shenfield and Abbey Wood in the east.

The developers claim it will increase London’s rail capacity by 10 per cent.

The pictures show the five tunnelling machines carving new paths under the capital, and remodelling old ones, some of which were first used in 1878.

Over 7,000 people are working on the dig, which goes on 24 hours a day. Click image for more.

Click to view Crossrail image gallery from The Independent

Click to view Crossrail image gallery from The Independent

A new report has been published on the predicted effect Crossrail will have on London property prices. The headline is that “Residential capital values are projected to increase immediately around Crossrail stations in central London by 25 per cent, and by 20 per cent in the suburbs, again above a rising baseline projection. In many locations, Crossrail will have a transformative effect on the property market and development activity over time.”

Crossrail is among the most significant infrastructure projects ever undertaken in the UK. From improving journey times across London, to easing congestion and offering better connections, Crossrail will change the way people travel around the capital. Crossrail’s new stations will revitalise the concept of the station being the centre of the community it serves.

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Jonathan Freedland compares today’s Crossrail project with the first Thames tunnel built by Marc Brunel in 1825.

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The Long View - Crossrail

The Long View - Crossrail

Europe’s largest construction project has unveiled the first of eight, 1,000 tonne tunnel boring machines (TBM) that will construct the new Crossrail tunnels under central London.

The 140 metre long, fully assembled tunnel boring machine (TBM) is currently undergoing factory testing. The machine will shortly be dismantled and shipped to London where it will be re-assembled at Westbourne Park ahead of tunnelling commencing from Royal Oak in March.

To construct the 21km of twin-bore tunnel required for Crossrail, eight tunnel boring machines will be required and will undertake ten individual tunnel drives to construct the 6.2m diameter tunnels. At 140 metres, each TBM would just fit just inside the boundaries of a cricket oval.

The TBMs will bore the tunnelled section of the 118 kilometre rail line that will link Maidenhead and Heathrow in the west with Shenfield and Abbey Wood in the east. When completed, Crossrail will bring an extra 1.5 million people within 45 minutes journey of London and reduce cross London journey times.

Top-end developments, new transport links, luxury retail and leisure facilities have pushed the City of London, London’s business district, and the surrounding half-mile ‘Fringe’ into the Prime bracket

The City and its surrounding area now join established Prime areas such as Mayfair, Knightsbridge and Belgravia, says Knight Frank. The estate agency says it will add the City and its Fringe to its monthly Prime Central London Index of property prices, which has been tracking luxury property values since 1976.

Gráinne Gilmore, head of UK residential research for Knight Frank, said, “Four main factors make an area stand out as a prime location in central London: good levels of top-end housing stock, a central location, good transport links and excellent retail and leisure facilities. This combination delivers a higher than average propensity for growth in capital values.

“The City Fringe is a less-developed market than the City, although the western fringe of Clerkenwell and Farringdon is more established. But there are signs that the eastern fringe of Shoreditch and Spitalfields is catching up, with growing demand for property by city workers keen to enjoy the wide range of nightlife and cultural opportunities the area offers

“The eastern fringe has already benefitted from the recently completed East London Line, and Crossrail will also be a boost to the area, as there will be new stations in both the eastern and western fringes.”

“The last, but arguably, one of the most important factors in the move to prime for the fringe is the new tech hub which has emerged around Old Street in the fringes. Referred to by David Cameron as “Silicon Roundabout”, the area now plays host to hundreds of tech start-ups,and to Google’s new office building. Workers in this industry who choose to live nearby, in one of the liveliest areas of the City, will drive demand for residential units in this neighbourhood.”

Trendy Shoreditch - Click image to go to article

Trendy Shoreditch - Click image to go to article

London business chiefs have set up a panel to explore building a new rail link – dubbed Crossrail 2 – beneath the capital.

Former transport secretary Lord Adonis will lead the group in assessing plans to connect Chelsea and Hackney.

Business group London First recruited him, amid fears that the Tube will be swamped by a future population boom, and by the extra commuters who will pour into the capital using high-speed rail.

Mayor Boris Johnson’s transport strategy promotes a new east-west underground line but firms want to ensure it does not suffer the kind of delays which have dogged the existing Crossrail scheme.

London First chief executive Baroness Valentine said: “We need to start planning for the next generation of improvements now.”

The proposed route would go from Parsons Green to Leytonstone via Chelsea, Sloane Square, Victoria, Piccadilly Circus, Tottenham Court Road, King’s Cross St. Pancras, Angel, Essex Road, Dalston Junction, Hackney Central and Homerton.

Dalston Junction - possible stop on Crossrail 2

Dalston Junction - possible stop on Crossrail 2