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Contractors World  - UK & Ireland
2013 Vol 3 No 2
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CONSTRUCTION NEWS & ECONOMY

It’s not just large companies that are benefitting. To date, 58 per cent of businesses in the project’s supply chain that have been monitored by Crossrail are small and medium sized businesses (SMEs).

Business to still be awarded

Crossrail is also urging businesses around the UK to seize the opportunities that the project has to offer. The majority of contracts throughout the supply chain are yet to be awarded as the project’s main contractors still need to buy a wide range of goods, works and services from companies of all sizes.

Andrew Wolstenholme, Crossrail Chief Executive said: “Crossrail is proving to be a much needed boost for a range of industries, creating and safeguarding jobs and providing tens of thousands of opportunities for UK businesses.

“Crossrail will not just benefit London and the southeast - the project’s economic benefits are being felt well beyond the confines of the M25. Firms right across the UK are winning business on the back of Europe’s largest construction project. Work is set to peak over the next two years, so it’s vital that businesses continue to seize the opportunities that Crossrail has to offer.”

The Mayor of London, Boris Johnson, said: “I have long championed the fact that investment in infrastructure in the capital means investment, growth and jobs for the entire United Kingdom. Crossrail is the perfect example, with this innovative and game changing London transport project delivering thousands of jobs across the length and breadth of the UK.”

 

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Tottenham Court Road Station - architects impression of over-site developmentTottenham Court Road Station - architects impression of over-site development

The ‘Crossrail factor’ continues to drive property investment in London

Proof if ever it was needed that investment in major infrastructure stimulates associated activities to drive the economy forward and to encourage growth. Is the Government listening?

The Crossrail project continues to have a growing impact on London’s property market with a series of major recent property deals highlighting the influence of the project and Crossrail’s own development plans also making good progress.
In 2012, Crossrail published a Property Impact Study following research by the UK’s largest independent commercial property consultant GVA. Among the study’s key findings were that Crossrail is already having an impact on property decisions in the Capital, stimulating investment in commercial activities, retail and housing, and driving up commercial office values around Crossrail stations.

Five months on and there is growing evidence in the property market to support the key findings of the report. Major property deals in London over recent months have highlighted the impact and influence of Crossrail.

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