Crossrail 2 set to cost taxpayers £41.3bn, reveals London mayor February 27, 2019 Crossrail 2 is set to cost over £40bn, the Mayor of London has revealed in a budget document published earlier this week. The £41.3bn estimate for the proposed north to south London line is higher than the Greater London Authority's widely cited £30bn budget, which is based on 2014 prices. Read more: Crossrail 2 boss says [...]
Government told to publish Govia’s profit cap amid concerns over taxpayers’ money February 26, 2019 The public spending watchdog has urged the government to publish details of Govia's profit cap, citing fears taxpayers' money is not being "adequately protected" after last year's rail chaos. The Public Accounts Committee (PAC), chaired by MP Meg Hillier, said there was a lack of transparency around the profit rate that Govia earns from its [...]
Crossrail bosses hope to give estimate for new opening date ‘by April’ February 25, 2019 London mayor Sadiq Khan has said there is no date that Crossrail chief executive Mark Wild can give "with confidence" for when the delayed railway will open, but that he hopes to give an estimate by the end of this financial quarter. The £17.6bn Elizabeth Line, which will stretch from Shenfield in the east to Reading in the [...]
Greystar and Henderson Park snap up Telford build-to-rent site for £105m February 19, 2019 London housebuilder Telford Homes revealed this morning that it has sold one of its largest build-to-rent development sites for more than £100m. US developer Greystar and European real estate investment platform Henderson Park have snapped up the Equipment Works scheme in Walthamstow, which comprises more than 250 rental homes, for £105.5m in their latest bid to [...]
Telford Homes to develop £160m Stratford project February 11, 2019 London developer Telford Homes has ramped up its investment in East London this morning after announcing plans for a £160m housing site in Stratford. The housebuilder, which specialises in non-prime London property, has snapped up the 1.2 acre development for £20m as it looks to tap into recent regeneration following the arrival of Westfield shopping [...]
HS2 station contracts worth £2.56bn awarded to Mace, Balfour Beatty and Vinci February 6, 2019 HS2 has tasked construction firms Mace, Balfour Beatty and Vinci with building the project’s London terminus and west London super-hub at Old Oak Common, in deals worth £2.56bn. Mace and joint venture partner construction firm Dragados will take on the work at Euston, worth £1.65bn, in an award which will come as a blow to [...]
HS2 releases CGI images of Old Oak Common station design February 5, 2019 HS2 has released a batch of images showing what the Old Oak Common interchange will look like once the high speed railway opens in 2026. HS2 says the interchange will create 65,000 jobs and 25,500 homes when it opens. It is set to become the best connected rail station in the UK, offering connections to the £17.6bn [...]
TfL urged to be ‘open’ with Londoners about Northern Line extension delay February 5, 2019 Transport for London (TfL) has been told to be "open" with Londoners about the reasons behind the Northern Line extension delay after boss Mike Brown said a revised opening date would have "no material impact" on its revenues. The extension, which will lengthen the Northern Line to Battersea and create 25,000 new jobs and 20,000 new homes, was scheduled to open next [...]
Crossrail moves away from gagging orders for departing staff amid transparency concerns January 17, 2019 Crossrail has heeded calls from Transport for London (TfL) to refrain from forcing departing staff to sign non-disclosure agreements (NDAs) in light of concerns raised about the organisation's transparency. NDAs are a type of legal contract that bind former employers to confidentiality restrictions. They attracted controversy in the Harvey Weinstein scandal, when it emerged that a number of his [...]
Crossrail begins dynamic testing on the Elizabeth Line after series of delays and setbacks January 14, 2019 Crossrail began operating test trains on the Elizabeth Line today, allowing a crucial part of the project to get back on its feet after months of delays and setbacks. Main dynamic testing is the process by which trains are operated in the tunnels to test the new signalling systems to ensure the trains are safe and [...]