Exclusive News and Articles

Crossrail to seek two-year project extension

Crossrail operator MTR is set to seek a two-year extension for the construction of its £17.6 billion rail line.

MTR currently runs services on completed Crossrail tracks, but has revealed that the central portion of the line may not be finished until late 2021.

The £1.4 billion contract is due to expire in 2023, but includes the option of a two-year extension. Transport for London has confirmed that were an extension implemented, the construction timeline would not exceed 2025.

A partner in Hewitsons’ construction law team, Colin Jones, has noted the negative reaction from parts of the industry, saying: “Whilst many have accepted that Notre-Dame will take an indeterminate period of many years to re-build, the same cannot be said for Crossrail.”

However, speaking to the Financial Times, chief executive of MTR, Jacob Kam, said that the company is seeking an extension because it wants “a reasonable timespan so we can bring the line up to the level we expect”… If we push it too hard, we might not get the product that we want, but if we’re too relaxed we’ll never get it done.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.

Share :

Related Recent News

Protect Your Business with Expert Lease Advisory Services   From lease renewals to rent reviews, Morgan Pryce ensures your lease...

Seamless Office Relocation, Expansion & Workplace Optimization   Planning a move, expanding your team, or redesigning your office? Morgan Pryce...

Your Trusted Partner in Commercial Property Acquisition   Whether you’re buying for occupation, investment, or development, Morgan Pryce delivers unmatched...

Scroll to Top

Book A Consultation

I consent to Morgan Pryce storing my details to contact me. Read more about how we store data in our​ Privacy Policy​.

Looking To Purchase

Morgan Pryce delivers expertise in securing prime on and off market commercial properties across London and the UK. We guide and nurture your purchase from initiation though to legal completion.

I consent to Morgan Pryce storing my details to contact me. Read more about how we store data in our​ Privacy Policy​.