The Elizabeth line and what it means for UK businesses

It’s no secret that both living and working in the south of England is more costly. From everyday items to the average cost of a rented property, living in or around the capital can see you paying considerably more, compared to towns and cities in the north of the country. To make living more affordable, you’ll find that jobs in the south offer a higher salary bracket, compared to a job in cities like Liverpool and Manchester. When it comes to property prices in the south, this doesn’t just affectpeople wanting to live in around London; but businesses as well. For anyone wanting to start a business in London, you’re automatically faced with the thought of high property rates.

In order to avoid having to pay the high rental prices of a property in London, you’ll have to branch out and move further away from the capital. Although this may seem like the obvious thing to do, this can affect day to day business. Moving further towards towns like Reading and High Wycombe, would normally present the issue of how you would travel to and from London, without long distance times and using multiple forms of transport. In 2019 this will no longer be an issue for businesses further afield from the capital, as the new Elizabeth Line is set to be unveiled. Stretching for more than 60 miles, the new train linewill run from Reading through to Heathrow, offering people the chance to travel to and from the city more efficiently.

To delve a little deeper into what The Elizabeth Line will do for businesses around the city, London property experts, Pall Mall Estates, have conducted some research into the benefits we can expect to see.

The benefits of The Elizabeth Line

Although The Elizabeth line will benefit everyday commuters, it will play a positive role in connecting businesses in and around the city. In total the line will consist of 40 stations and connect places like Berkshire, Buckinghamshire and Essex. London and the surrounding areas see thousands of commuters pass to and from every day and because of this, the new line will see 24 trains travelling in both directions every hour; meaning more reliable and efficient transport times. Out of all the statistics released about the new line, one of the standout facts is that The Elizabeth Line is expected to serve a huge 200 million people a year; easing the pressure off other Transport for London services.

What this means for UK business

The Elizabeth Line will provide a huge boost for business here in the UK. For any business around the capital, it’s important to be able to access the city as efficiently as possible and up until now, it was seen as a difficult task. For anyone starting a business in the south, London was seen as the main hotspot, with it being a major hub for business and tourism; but now the option to move further afield is seen as a positive and not as much a negative. With some of the line already in use but due to be fully completed next year, commuters will have easy access to the city, meaning less restraints for businesses and commuters wanting to work in and around London.

 

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