Forget the West End, Crossrail’s real beneficiary is sure to be Farringdon

10 April 2012

"Farringdon" was the answer two experts gave to the question "which location will see the greatest uplift in commercial and residential property prices come 2018, when Crossrail is finished?"

Computer images of the new £1 billion station at Tottenham Court Road were published this week which should allay any fears the 73-mile pronged railway linking Maidenhead with Shenfield might be consigned to the sidings.

If you do have any doubts, go and look at the huge building site paralysing the eastern end of Oxford Street.

The works underway at Farringdon are even bigger. The redevelopment, which embraces the north-south Thameslink line, is so extensive it fills the gap between the existing station and Barbican.

Developers such as Derwent London long ago figured prices around Tottenham Court Road would rise and bought into the area. Farringdon is another story.

"There will be an incredible improvement in the accessibility at Farringdon" says Jones Lang La Salle's Crossrail expert, Charles Pinchbeck. "You will be able to get to Heathrow, Gatwick, Luton and Stansted airports very quickly."

Second expert, architect Rab Bennetts, is trying to persuade a client to "do something cultural" in the area. "Farringdon will become a new hub," he predicts. So, are those sneaky developers already piling in? "No, not yet," says Pinchbeck. Go for it.

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