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Crossrail to help town's flagging office market

Property Week

February 2006

The Crossrail project is being led by Cross London Rail Links, a 50:50 joint venture company formed by Transport for London and the Department for Transport.

Ian Rathbone, Cross London Rail Links media manager, says Maidenhead was selected after research showed the minimum journey time from Reading to Paddington by Crossrail would be about 44 minutes, compared with 26 minutes of First Great Western's service.

Despite this, demand for the project to come to the Berkshire capital is high. Keith Wise, a partner at Campbell Gordon's Reading office, says Crossrail could help the town's flagging office market

'Rapid access by train to Croydon in the 1960's and 1970's led to its transformation as a commercial growth centre and out-of-town office location, 'he says. 'If Crossrail terminates at Reading, it will be perceived like the end of a tube line, increasing its appeal as a commercial centre. It wouldn't surprise me then to see office rents in Reading snapping at those in the West End'.

'Looking ahead to developments like the 1.4m sq.ft (130,060 sq.m) mixed Station Hill development, it would be a missed opportunity not bringing Crossrail here'

 
 
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