Exclusive: It’s all here – Crossrail will be a ‘game changer’ for Canary Wharf’s evolution, says property boss
The Elizabeth line will be a “game changer” for the evolution of Canary Wharf from mere financial centre to a place where people can live, shop and enjoy themselves.
According to Shobi Khan – chief executive of real estate giant Canary Wharf Group – since yesterday’s opening of the Elizabeth Line, passenger numbers at the new Canary Wharf station have gone through the roof.
“We had north of a 40 per cent increase [in passenger numbers] from a typical Tuesday,” he told City PM “We have had a lot of new people, not only the commuters, but we also had a lot of new people coming to the Estate.”
Even though works at the 128-acre Estate were completed in 2015 with the addition of new shops and restaurants, Crossrail’s opening is set to turn Canary Wharf into its best version yet, “Canary Wharf 3.0.”
The tube line will better connect Canary Wharf to central and east London as well as to Heathrow airport, as services to Liverpool Street will take 6 minutes, while rides to Paddington and Heathrow will take 17 and 39 minutes respectively.
By attracting an additional 1.5 million visitors, the Elizabeth line will help people become “aware of what’s going on here.”
“You want residential, it’s all here; you want schools, it’s all here; you want great amenities, it’s all here; you want to be in a sustainable environment, it’s all here,” Khan explained.
“Depending on what your taste and appetite is, we’ve got something that’s a very unique value proposition for everybody, which I think is very special not only in London but in the world.”
“All the parks we’ve got here, the summer concerts and movies we’re going to have here, all these things are going to make this place very special,” he said.