INDUSTRY NEWS

Mayor and developers reach Crossrail compromise

Mayor of London Boris Johnson and developers Terrace Hill and Doughty Hanson have ended their stalemate.

The developers are planning a commercial property development close to Victoria Station and within London’s Central Activities Zone (CAZ)

Boris Johnson has insisted developers within the CAZ contribute to the Crossrail project rail link.

The Mayor had vetoed an earlier local council decision to let the developer go ahead with its commercial property build.

Terrace Hill and Doughty Hanson will now contribute £120,000 towards the Crossrail service, having earlier rejected Mr Johnson’s suggested £866,000 figure.

The Mayor told developers he is working with, not against them.

He said: “We will continue to seek a financial contribution in respect of developments that fall within the new policy but will do so pragmatically and consider each case in the light of its individual circumstances.”
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