Budget promises Brent Cross investment

Brent Cross was included in chancellor George Osborne’s 2015 Budget announcements, the last before the General Election in May. The area is a prime target for investment over this period, as it sits across the two marginal constituencies of Finchley and Golders Green, and Hendon.

The chancellor confirmed that Brent Cross will get a new Overground station, which is expected to deliver journey times of as little as 12 minutes to King’s Cross, providing a valuable link to the heart of the city for businesses and residents alike, as well as encouraging visitors to use public transport.

The government will provide funding totalling £97 million for the station, which will in turn lead to a major housing development in the surrounding area. This should make a significant impact on the mayor of London’s target of building 400,000 new homes in the capital.

The decision to allow the mayor to bypass red tape should also help deliver fast progress when it comes to new homes across London.

Leader of Barnet Borough Council Richard Cornelius welcomed the news, and said: “This is the final piece of the Brent Cross jigsaw after confirming Argent Related as key developers for Brent Cross south. We have been working very closely with the Treasury and the Mayor’s Office to make this happen.

“The Chancellor’s decision today unlocks the potential for the Brent Cross development to create up to 27,000 jobs and 7,500 new homes.”

He added: “It is very difficult to overstate the importance of this redevelopment to Barnet.”

Mr Cornelius went on to explain that regeneration of the south side of Brent Cross was essential to the wider development of the borough, as well as providing value for money for local taxpayers.

Mr Osborne announced the plans by saying: “London is the global capital of the world and we want it to grow stronger still. Today we confirm new investment in transport, regeneration from Brent Cross to Croydon.”

Published 25th March, 2015

© 2015 Estates IT Limited