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North West London wins £4.5bn injection

North West London has won close to £1bn in transport and carbon reduction cash as part of the £4.5bn Brent Cross Cricklewood regeneration scheme.

The £964M cash injection comes from a consortium led by the Brent Cross shopping centre owner, Hammerson, with Standard Life and Brookfield.

The cash comprises £515.5M for new transport infrastructure and a rail-linked waste handling depot, £189M for new environmental measures, £112M for remediation and waste disposal, £109M for “community and social infrastructure”, and £38.5M for public and green spaces.

The £515M includes £200M for road improvements with £50M to improve the Staples Corner interchange between the North Circular and the M1. There is also money for a new train station on the Midland Main Line and new bridges.

The package will be delivered over some 20 years and will create 27,000 new jobs.

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