Grosvenor Britain & Ireland has signed a development agreement this week with Transport for London to deliver 65,500 sq. ft. (net) of new office space above the western ticket hall at the Elizabeth Line’s new Bond Street station.
While completing the station, Crossrail will also deliver improvements to the surrounding public areas on Davies Street and Weighhouse Street.
Once launched, Elizabeth Line services will cut journey times to West End from many destinations, in some cases reducing them by half. Passengers will be able to arrive from Heathrow in 26 minutes, Canary Wharf in 12 minutes and Paddington in just 2 minutes.
The Davies Street over station development is one of 12 on the Elizabeth line network, which will deliver 3 million sq. ft. (gross) of office, retail and residential space between Paddington and Woolwich.
Craig McWilliam, Chief Executive, Grosvenor Britain & Ireland, commented: “By opening up London, Crossrail will bring a wealth of new opportunities for the West End and we are responding by investing in the creation of new employment space at what will be one of London’s best connected addresses. We anticipate significant interest in this location given its proximity to multiple transport links and the West End’s world-renowned retail streets, restaurants and open spaces.”
Graeme Craig, Director of Commercial Development, TfL, said: “The Elizabeth line is set to redefine travel across our city and it’s fantastic to see the sites above some of the major central London stations progressing. These schemes will result in income of around £500m and this will be reinvested in our transport network. The 12 sites will deliver much needed homes, office and commercial space and are testament to how when transport and development is planned together it can open up huge opportunities for growth.”
Grosvenor’s 20 year vision is to transform its London estate to help tackle the pressures facing the capital. With London's rapid growth, this strategy will see Mayfair and Belgravia be more active, more open and more integrated, working harder for the city. This development will open up new contemporary, well connected office space for the area.