Agreement has been reached to build a new “station box” on the Crossrail line through Woolwich, Transport Secretary Philip Hammond has announced today.
The station box, which could be converted into a complete station in the future, will be privately funded by developer Berkeley Homes under an agreement with the Department for Transport, Transport for London, Crossrail and Greenwich Council.
“A Crossrail station in Woolwich would make travel to the centre of London quicker and easier and would help bring new investment to the area,” said Hammond.
“I am pleased that we have secured this site for a future station and have reached an agreement to build the “box” for the station at no extra cost to the taxpayer, bringing the benefits of a station in Woolwich a step closer.”
“This is an excellent deal for the taxpayer and shows our commitment to deliver the ambitious Crossrail project while maximising value for money.”
The future of the station has been uncertain for over a year, since developer Berkeley Homes was hit by the economic downturn. The developer had promised to put £186M towards station box construction and planned to develop the space around it.
Berkeley is understood to have spent £5M on the station design but its finances suffered badly in the recession and it has since been attempting to renegotiate the extent of its funding commitments with Crossrail.