The West London Business team has launched a report evidencing West London as “the world’s most connected place”. The launch was attended by senior business leaders and influencers gathering at the MIPIM 2019 global property conference in Cannes, France.
WLB’s research found that London was “the most connected” amongst a benchmark group of ‘Global Cities’. The team then used a reduced dataset to compare London’s sub-regions evidencing West London was the most connected part of the capital.
The connectivity model compared cultural, transport, internet and ‘Ease of doing business’ factors in each location. On this balanced scorecard assessment West London came out on top.
Old Oak and Park Royal Development Corporation (OPDC), has this week welcomed the government’s decision to award £250m to kick-start development on the West London site. The investment, from the government’s Housing Infrastructure Fund (HIF), will be used to assemble land, design and build vital infrastructure: the development of utilities and drainage, an energy centre and electricity switching-station and the early construction of Union Way, to be delivered by 2023. This will allow development of homes and businesses to begin at Old Oak North, close to the new transport ‘Superhub’ where the HS2 and the Elizabeth Line will meet.
The estimated gross value added (GVA) for the entire project and development of 25,500 homes and 65,000 jobs remains at £7.6bn. The Mayor of London, Sadiq Khan, said: “This money will let us enter a new stage in the development of Old Oak, delivering the essential infrastructure to make the Old Oak dream a reality.” Chairman of OPDC, Liz Peace CBE, said: “Investment in infrastructure in Old Oak North makes economic sense and sends the right message to the market.”
Andrew Dakers, CEO of West London Business, added: “At MIPIM the news of OPDC’s HIF funding was well received by business leaders. This enables progress in addressing London’s housing crisis and bringing forward regeneration around Old Oak Common station where HS2 will meet the Elizabeth Line in 2026.”
OPDC has committed to using its powers as the local planning authority and delivery agent to make sure the full £250m is spent by the deadline, March 2023.
- Posted by Lisa Sharp
- On March 17, 2019
- 0 Comments