Construction News

Sat June 19 2021

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Crossrail explores development scope

9 May 12 Crossrail has signed up seven of the country’s leading property consultancies to advise on exploiting development opportunities above its stations.

Crossrail aims to generate in the region of £500m. to go towards the £15bn project cost, by maximising development opportunities above its stations and on land currently being used for tunnel construction.

The firms appointed to the property adviser framework will be called upon as required to provide development advice for a total of 12 sites including Paddington Triangle, Liverpool Street station and Fisher Street worksite.

The property advisers selected to participate in this framework are:

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  • BNP Paribas: Fisher Street Shaft, Liverpool Street East (Blomfield Street) and Farringdon West (Cardinal House).
  • Cushman & Wakefield: Paddington Triangle.
  • Drivers Jonas Deloitte: Farringdon East (Lindsay Street) and Bond Street East (18/19 Hanover Square).
  • GVA Grimley: Limmo (near Canning Town).
  • Knight Frank: Woolwich and Tottenham Court Road East (Astoria site/Goslett Yard).
  • Savills Commercial: Liverpool Street West (101 Moorgate), Bond Street West (65 Davies Street) and Tottenham Court Road West (Dean Street).
  • DTZ: General framework appointment.

The consultants have been asked to advise on the best development use of the available space and assist with negotiations with development partners.

Crossrail land and property director Ian Lindsay said: “Crossrail is not just about the construction of a new railway, it is a huge opportunity to plan and implement developments that will regenerate and transform areas around our stations and other construction sites.

“We are already working with five developers to build high quality retail, office and residential space above our central London stations. We are now turning our development focus towards other construction sites along the route to consider how we can best maximise the return for taxpayers while also creating developments that will benefit communities across London.”

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