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Crossrail submits plans for major new property development in Farringdon

By Peter MacLennan

Crossrail submits plans for major new property development in Farringdon

New development will sit above one of London’s biggest transport interchanges

Plans have been submitted to City of London Corporation for five floors (120,000 sq ft) of column-free new office space with a large reception area and retail units at ground floor. The scheme, designed by PLP Architecture, is intended to create a well-proportioned backdrop to the listed Smithfield Market.

Separate to the over-site development plans, a range of public realm improvements will also be carried out to improve pedestrian areas around the new development.

Once Crossrail services begin in 2018, Farringdon will be at the heart of London’s rail network linking Crossrail, Thameslink and London Underground services and creating direct connections with three of London’s five airports. As a result Farringdon is expected to re-emerge as a destination in its own right - a recent study by leading property consultancy Knight Frank highlighted Farringdon as one of the biggest beneficiaries from the new Crossrail services that will “benefit from a major uplift to commercial activity”.

Crossrail Land & Property Director Ian Lindsay said: “Crossrail will help transform Farringdon into one of London’s biggest transport interchanges and a destination in its own right. The Lindsey Street scheme offers another significant development for Farringdon, creating high-quality commercial space above the world-class new transport links Crossrail will bring the City of London.”

The Lindsey Street scheme is one of two over-station developments planned in the Farringdon area. Crossrail and development partner Cardinal Lysander Group have already submitted plans for the Cardinal House scheme that will create high-quality office space above Crossrail’s western ticket hall at Farringdon.

A total of 3 million square feet of development space is planned above Crossrail stations, helping create new business space, jobs and new homes for Londoners. The scale of Crossrail’s property plans are detailed in the Driving London Development brochure which also outlines the significant development and investment opportunities at London sites where funding and development partners will be sought later this year.

Throughout the Crossrail route, planning permission has now been secured for nearly 1 million square feet of development space so far with further over-site development planning applications to be submitted later this year. A range of development partners are already in place for developments at sites including Bond Street West (Grosvenor Estates); Bond Street East (Great Portland Estates); Tottenham Court Road East (Derwent London); and Liverpool Street West (Aviva Investors).

Ends

For further information contact the Crossrail Press Office on 020 3229 9552 or email pressoffice@crossrail.co.uk

About Crossrail:

The total funding envelope available to deliver Crossrail is £14.8bn. The Crossrail route will pass through 37 stations and run 118 km (73 miles) from Maidenhead and Heathrow in the west, through new twin-bore 21 km (13 miles) tunnels below central London to Shenfield and Abbey Wood in the east.

Crossrail is being delivered by Crossrail Limited (CRL). CRL is a wholly owned subsidiary of Transport for London. Crossrail is jointly sponsored by the Department for Transport and Transport for London.

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