4 Nov

Crossrail funding deal unveiled

Crossrail funding deal unveiled

A £230 million deal between the British Airports Authority (BAA) and Crossrail has been announced today.

Under the agreement, BAA will help fund the new cross-London link in return for four services a day running from Heathrow to Canary Wharf, Abbey Wood and Shenley via central London.

The development may help raise house prices in the areas connected by the service, due to their greater accessibility.

Property firm Young Group's chief executive Neil Young said the company's own development at Dalston in the east of the capital is a good example of how this can work.

He said the increase in prices there has been nine per cent above the London average in the 18 months since it was announced that the East London Line extension will be serving the district.

Speaking about the Crossrail project, Mr Young said it would produce "a much needed boost to confidence in the local markets close to the route's stations".ADNFCR-1222-ID-18858883-ADNFCR

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