West End 'will see £2bn of development'

02 December 2011

Written by Jeni Browne

There will be around £2 billion of developments taking place in London's West End during the next three years, one real estate expert has observed.

Director of communications at New West End Company Jace Tyrell claimed retail spaces, residential accommodation and premises for businesses will be built over this period of time.

People taking out a commercial mortgage may wish to purchase some of this stock, as he pointed out London Underground upgrades and Crossrail will also reach the area.

Tottenham Court Road and Bond Street will be the focal point of many of the new buildings, the expert declared.

The new structures will be created through a mix of public sector contracts, private enterprises and property developers, Mr Tyrell stated.

Real estate investment trust Shaftsbury recently noted trading conditions in the West End have remained "very healthy" and anticipated the area will experience a growth in visitor numbers.

Its "buoyant economy" reflects the capital's reputation as a key place for tourism and corporate investment, it added.