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Crossrail to seek two-year project extension

Crossrail to seek two-year project extension
13th May 2019

Crossrail to seek two-year project extension

Crossrail operator MTR is set to seek a two-year extension for the construction of its £17.6 billion rail line.

MTR currently runs services on completed Crossrail tracks, but has revealed that the central portion of the line may not be finished until late 2021.

The £1.4 billion contract is due to expire in 2023, but includes the option of a two-year extension. Transport for London has confirmed that were an extension implemented, the construction timeline would not exceed 2025.

A partner in Hewitsons’ construction law team, Colin Jones, has noted the negative reaction from parts of the industry, saying: “Whilst many have accepted that Notre-Dame will take an indeterminate period of many years to re-build, the same cannot be said for Crossrail.”

However, speaking to the Financial Times, chief executive of MTR, Jacob Kam, said that the company is seeking an extension because it wants “a reasonable timespan so we can bring the line up to the level we expect”… If we push it too hard, we might not get the product that we want, but if we’re too relaxed we’ll never get it done.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.

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