Introduction:
Construction of Crossrail started in 2009. Once complete, it will connect London from east to west (Shenfield to Reading) and will be branded the “Elizabeth Line”. More importantly, the line will connect to Heathrow Airport. In addition, a spur will branch off in Central London to connect the communities of Canary Wharf, Woolwich & Abbey Wood.
The project is considered Europe’s largest infrastructure project and London’s largest addition in a generation. It has a total length of 118 km with 42km of underground rail.
To Date:
Trains are already serving passengers on the eastern and western sections of the line. The central section, from Paddington to Abbey Wood, is expected to open next year, in the first half of 2022. The line is expected to reach 200 million riders per year and will boost London’s transport capacity by 10%.
December 2020 Update:
The Elizabeth Line is in the final stages of completion as construction and systems are integrated followed by intensive operational testing. Once fully open, the line will be aligned with the National Rail timetable change in May and December. Trial Running of trains will be a key focus in 2021 to fully test the timetable and ensure operational reliability as station construction is finalized.
From a real estate perspective:
For prospective London real estate buyers & investors, take a closer look at the stops on the Elizabeth Line. Projects along the line will drive demand and capital for many years due to the convenience that the line provides. Now is a good time to invest as the economy begins to pick up steam from the pandemic slowdown.
For example, we are currently working on the project Royal Arsenal Riverside (RAR) in Woolwich which will have has direct access to the Elizabeth line through Woolwich Station. RAR is being developed by the Berkeley Group who specialise in large scale regeneration projects. RAR is a multi-phase regeneration development in the heart of Woolwich, a rapidly developing area offering a prime location along the River Thames. Investment wise, the area will continue to have significant uplift in terms of appreciation due to the regeneration, the new Crossrail station as well as easy access to National Rail & DLR stations and on-site Thames Clipper Pier.
Please contact us for more details and a one-on-one consultation!
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