4Nov
Crossrail funding deal unveiled
A £230 million deal between the British Airports Authority
(BAA) and Crossrail has been announced today.
Under the agreement, BAA will help fund the new cross-London link
in return for four services a day running from Heathrow to Canary
Wharf, Abbey Wood and Shenley via central London.
The development may help raise house prices in the areas connected
by the service, due to their greater accessibility.
Property firm Young Group's chief executive Neil Young said the
company's own development at Dalston in the east of the capital is
a good example of how this can work.
He said the increase in prices there has been nine per cent above
the London average in the 18 months since it was announced that the
East London Line extension will be serving the district.
Speaking about the Crossrail project, Mr Young said it would
produce "a much needed boost to confidence in the local markets
close to the route's stations".