Written by: Phillip Braunstein

The new underground line to help alleviate excessive crowding on the 150 year old tube line is called the CrossRail. And it has sparked new developments throughout many areas of London that were in need of gentrification. The WSJ reports that Tottenham Court Road station itself is undergoing a $1.56 billion face-lift, while Centre Point, a grim-looking 1960s tower beside the station, is to be transformed into high-end apartments in a $545 million plan by developers Almacantar and Frogmore. “This location is undergoing major regeneration made viable by Crossrail, with public-realm improvements and new office and residential development,” said Adam Challis, head of residential research at JLL. This is all happening on the edge of the West End, the most expensive real-estate market in the world. Read more here.

Property prices in London’s smartest neighborhoods have been rising consistently largely because of an influx of foreign buyers, so the appeal of an improved rail service to the airport will help spread demand into new districts.

This is a mirror image of what is transpiring in our own backyard in West Los Angeles. The Expo light rail line is spurring mega development projects along its stations and their near vicinities. For example the Bundy station across from the Martin Cadillac dealer is in planning to become a mixed-use development with over 500 apartments

One of Eklipse Real Estate’s listings is right at the heart of the redevelopment action at 2236 Barrington Ave . The commercial warehouse space is available for Sublease and hovers just north of the Expo line on Barrington. For more information on this available space for lease, please contact the listing agent, Phillip Braunstein.