London transport investment 'to unlock commercial property potential'

Commercial property development opportunities could be unlocked in London as investment in the capital's transport infrastructure is increased, it has been claimed

According to CB Richard Ellis (CBRE), investment over the next 15 years will unlock potential in a range of key areas, such as the Isle of Dogs, King's Cross, Stratford and Paddington.

The £16 billion Crossrail scheme is likely to increase the capacity of the public transport system by ten per cent, while a £30 billion improvement programme on the Underground will also increase the service's reliability.

Kevin McCauley, head of London research at CBRE, said: "Investment in infrastructure is crucial to ensure the capital remains one of the world's leading business locations.

"This investment will create extraordinary opportunities for investors, developers and occupiers alike."

CBRE recently advised Aviva Investors over the £24.4 million sale of St Georges House in Wimbledon.

The sale of the property to Threadneedle reflects an initial yield of 7.84 per cent.