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News Release


Comprehensive Spending Review: Jones Lang LaSalle Reaction to Confirmation of crossrail Plans

London, 21st October 2010 – In response to the Chancellor’s confirmation that the crossrail project will go ahead, Jones Lang LaSalle gave the following comment.

Charles Pinchbeck, Director in Central London Development at Jones Lang LaSalle, said: “The news that crossrail will be funded and go ahead confirms industry expectations. Removing the final element of uncertainty should allow related real estate projects to proceed, which is great news for the property industry.”
Andrew Hume, Director in Jones Lang LaSalle’s Development and Asset Strategy team, said: “The East of London offers huge potential to accommodate a significant proportion of London's future growth but, it will need new infrastructure to enable this to happen.  crossrail is a key component to realising this growth.  It will significantly improve the capacity and speed of access to improve the prospects for growth of new commercial development, for business and residential communities and enhancing opportunities for existing communities in the East.”
Guy Parkes, Head of Jones Lang LaSalle’s Western Corridor office, said: “crossrail is possibly going to be the most important contribution to the Western Corridor region since the M25 was constructed. Connectivity has been the foundation of growth for the region revolving around Heathrow Airport as a spring board to mainland Europe and complimented by excellent road infrastructure - M4, M25, M3 and M40 - and also fast trains to London and now across London to the financial centre in the City and Canary Wharf.”
He continued: “These improved transport links will mean that access to finance, customers and talent – all key fundamentals for occupiers locating in the South East – will be improved. Decentralisation will now become a realistic ambition for many businesses considering relocation out of central London in order to achieve cost savings.”