Jubilee line raises land value by an estimated £2.8billion
Metro : April 16, 2004
A report published by Transport for London (TfL) suggests that the uplift in land values attributed to the Jubilee Line Extension is in the region of £2.8billion in the proximity of Canary Wharf and Southwark Underground stations. The pilot study, conducted by globally integrated real estate services and money management firm Jones Lang LaSalle, found that there has been a positive impact on local property market values. The conclusions of the report are that the estimated uplift in land values is in a wide range, but in the order of £2billion around Canary Wharf Underground station and £800million around Southwark Underground station.
Jones Lang LaSalle were commissioned by TfL was to undertake a pilot study and assess the impact of the Jubilee Line Extension (JLE) on land values at two stations, Southwark and Canary Wharf.
The full report, ‘Land & Property Value Study - Assessing the Change in Land & Property Values Attributable to the Jubilee Line Extension’, is available on the TfL website (3.5MB). Or read the TfL press release here.