INDUSTRY NEWS

900 firms descend on London for HS2 event

According to deputy Prime Minister Nick Clegg the HS2 is “healing the North-South divide” for London office commuters.

Approximately 900 firms gathered in London last week to hear more details about the first phase of the high speed rail development which is to be built in the UK.

The first phase will see four larger train stations re-modelled, with more than 100 viaducts and bridges added as well.

HS2 Ltd stated: “New or renovated stations can have a considerable impact upon their locale by improving appearance, improving retail and leisure offerings and increasing non-travel footfall.”

Currently, the bill for phase one of HS2 is progressing through Parliament.

Construction is set to start at the end of 2016 and should take around nine years to be fully completed. The total cost estimate for the build is £17.16 bn.

HS2 chief executive, Simon Kirby, said: “The pace of HS2’s development is accelerating so we’re ready to hit the ground running, assuming Royal Assent in 2016.”

Another HS2 Supply Chain Conference will be held in Manchester at the end of October.

Economist and accountancy firm EY have forecasted that the high speed rail could be worth £40bn to the economy, with thousands of new office space and houses to be built.

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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