Crossrail & The Future of
London Transport
Ian Lindsay
Land and Property Director – Crossrail Ltd
April 2012
Crossrail – a reminder
28 existing surface stations upgraded (11
major reconstructions)
9 new sub-surface stations
21 km new sub-surface railway
90km of improved surface network
Transport Benefits
•  Relieve overcrowding on existing Tube and train services:
–  10% extra rail capacity for London – the largest single
increase in London’s transport capacity since WWII
–  Bring an additional 1.5 million people within 45 minutes
commuting distance of London's key business districts
•  Links to key financial centres:
–  Heathrow, West End, City and Canary Wharf connections
–  Supports London as a world city
•  Decrease journey times into and across London:
–  24 trains per hour
–  Reliable, efficient service
Decreasing journey times
Current journey +me
Crossrail journey +me
Slough to To*enham Court Road
55 minutes
36 minutes
Ilford to Bond Street
35 minutes
22 minutes
Heathrow to Liverpool Street
55 minutes
36 minutes
Liverpool Street to Abbey Wood
40 minutes
22 minutes
Paddington to Canary Wharf
30 minutes
17 minutes
Crossrail - Wider Benefits
•  Crossrail will directly employ c. 14,000 people at the peak of
construction, including more than 400 apprenticeships
•  Supply chain benefits in the UK predicted to be 3:1; more than
1,000 contracts already advertised and 90%+ of budget to date
is being spent in the UK
•  Crossrail is aiming to leave a skills legacy by reinvigorating
tunnelling and underground construction skills in the UK
•  Crossrail is predicted to reduce London’s total carbon
emissions by over 1,300 tonnes per annum as a result of
modal shift
•  Crossrail is predicted to reduce road traffic in London by up to
2%
•  Wider Economic Benefits to the UK worth up to £42bn (impact
on GDP)
Programme
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Bill
Funding
Land & Property
Acquisition
Engineering Design
Procurement
Enabling Works
Commence Main Works 2010
Launch 1st TBM spring 2012
MainSection
Construction
Central
Works Works
Tunnelling & Stations
Systems Installation
Rolling Stock and Depot – Spec, Procure, Build (CRL)
Testing /
Commissioning
Trial Operations/
Staged Opening
Project progress
•  Launched TBMs in the
West March 12
•  £2.0bn spent - 20%
complete
•  Procured our tunnels
and station boxes
Crossrail
Moving London Forward
•
•
•
Railway System
Passenger Experience
Legacy
Crossrail 2?
London is Growing
Britain relies on rail
The rail network is
busier than ever
•  More and more
people are choosing
to travel by rail
•  40% more
passenger journeys
and 60% more
freight than 2000
•  50% more trains
run than under BR
The railway is nearly
full
•  At peak times on
busiest parts of the
network there is no
space for more
trains but demand is
still rising
•  Over next 30
years freight
demand is likely to
rise by 140% and
passenger demand
will double
Faster, more frequent
and more reliable
journeys
Investment in rail is
essential for GB
economy
•  Better rail links create
better connections
between people/jobs and
greater customer bases
•  Rail brings businesses
closer together, making
GB more competitive a better place to do
business
•  Businesses need
the rail network to
expand to
accommodate their
growing needs
•  Rail investment
helps to stimulate
private sector
growth.
But, rail infrastructure is expensive
•  McNulty report 2011 – a better deal for
passengers and tax-payers
•  30% reduction in costs
Reducing Costs: Innovation
•  BIM - 4D design modelling
•  Products
•  Processes
•  Organisation
Impact on Property Values
Impact on Property Values
Railways & Real Estate
Broadgate/Liverpool St
Hong Kong
Station
St Pancras International
Landmark Station Hotel Marylebone
MTR Hong Kong
•  Railway Company or Property Company?
•  2009 MTR net profit = HK$7.3 billion:$3.55 bn from
property & $2.12 bn from transport
Crossrail – Funding Package
TfL Funding
DfT Funding
Developers Contribution
(£300m)
BAA Plc (£230m)
CoL (£250m)
Community Infrastructure
Levy
(£300m)
GLA
(BRS Borrowing and direct
contribution: £4.1bn)
DfT Grant
(£4.7bn)
£7.15bn
Sponsors Funding Account
£5.2bn
£2.45bn
Network Rail ONWs
(£2.3bn)
TFL Core Contribution
(£1.9bn)
Crossrail
Sale of Surplus Land and
Property (£545m)
Other funding
Other income including CoL
Voluntary Contributions
(£250m)
Other residual costs
(-£100m)
Over Site Development/Urban Realm Vision
•  First UK rail project to fully integrate design of stations,
OSDs and urban realm;
•  First UK rail project to initiate design reviews of stations,
OSDs and urban realm – bespoke Design Council CABE
Review Panel;
•  Masterplans produced for all areas around station
entrances to identify wider environmental and transport
improvements in partnership with local authorities
•  Catalyst for Regeneration & Growth: Recent research by JP
Morgan concluded ..”listed property will be a big winner
from Crossrail” on the basis that Crossrail will enhance
property values by 5 – 10% for assets within 800m of
stations
OSD/Urban Realm achievements to date
•  13 central OSD opportunities identified: 3.3m sq.ft
gross of offices, retail, residential with £1.6bn GDV
•  Partnership agreements already in place with existing
landowners on 5 sites, and Crossrail acting as
developer elsewhere
•  Design to stages C/D on 7 OSDs
•  Planning applications made on 4 OSDs
•  Planning consent received for 1 OSD
•  Urban realm designs complete for 8 central section
stations (13 separate areas of urban realm)
Tottenham Court Road: 4 Sites Strategy
Tottenham Court Road East
Dean Street
Centre Point Plaza Public Realm
Key Issues
•  London set to grow & prosper
•  Invest in transport infrastructure we need and
in liveable/sustainable communities
•  Reduce costs through innovation
•  Develop the rail/property model to bring value
•  Leverage investments through a national
infrastructure bank – new models/greater
certainty
Questions?