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Billion boost to Hayes properties with Crossrail

CROSSRAIL could add £1.25billion to property in Hayes and other west London areas on the route in the next decade, according to new research.

CROSSRAIL could add £1.25billion to property in Hayes and other west London areas on the route in the next decade, according to new research.

The study, carried out and updated by consultants GVA, suggests that Hayes, and Heathrow will see a ‘dramatic economic uplift’ within the next 10 years, and the line will help Hayes town unlock the ‘major potential for regeneration’.

Of the £1.25bn real estate windfall said to be coming to west London, it is believed that about £900million of that will be added to those homes and commercial premises in the close vicinity of the stations.

West Drayton will also benefit but to a lesser extent, the study says.

The new findings were presented at last week’s ‘West is Best’ seminar organised by Development Securities, who are joint partners with Cathedral Group on the £250m Old Vinyl Factory project.

The Old Vinyl Factory in Blyth Road, Hayes – once the manufacturing base for EMI which has run into ruin – is to be the site of around 500 homes, thousands of square metres of office space, a cinema and other leisure attractions.

Planning permission for the project was granted last November.

Across west London as a whole, it is estimated Crossrail will support the construction of about 18,000 new homes, and 28,000 new jobs.

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