Crossrail could add £1.25bn to the value of commercial and residential property in west London and beyond, according the latest GVA research.
The surge in values for property to the west of the city will happen over the 10 years from 2012, a Development Securities seminar heard this morning.
GVA’s updated Crossrail research examined the route between Maidenhead and Acton mainline stations. It found that areas including Slough, Hayes and Southall were particularly set to benefit.
The new cross London railway is also acting as a catalyst for growth across the western side of the city and beyond, with 3.4m sq ft of commercial space planned and almost 18,000 new homes.
Speaking at a seminar at which the research was presented, Development Securities director Julian Barwick highlighted the company’s investment in 10 Hammersmith Grove, Brunel Place in Slough and the Old Vinyl in Hayes as evidence of their faith in the benefits of Crossrail.
The three schemes will deliver a combined 1m sq ft of commercial and residential space.
“With huge investment in the infrastructure of suburban locations across the west and west of London – this growth is only set to further flourish,” he said.
jack.sidders@estatesgazette.com
