Thursday 26 September sees the final part of the redevelopment of King’s Cross station, which received £500m of public funding and has led to £2.2bn of private investment in a previously derelict and disused 67 acre site.
The redevelopment is one of the government’s priority infrastructure investments and is a key part of its plan to give Britain the infrastructure it needs to compete in the global race.
Commercial Secretary to the Treasury, Lord Deighton, who is responsible for infrastructure delivery, has emphasised how the redevelopment of King’s Cross is evidence of the government’s long term approach to infrastructure investment.
King’s Cross is one of the most significant infrastructure and regeneration projects in the UK over the last decade and among the top infrastructure priorities for the government.
Through Network Rail we have invested in the region of £500 million redeveloping and restoring the station, without which it simply wouldn’t be possible to keep up with growing passenger numbers – over 25 million use the station every year, travelling as far as Leeds, Edinburgh and Inverness.
The project shows that the country is getting on with delivering major projects and how important fast and reliable transport links are to investors and businesses. The site has attracted over £2.2 billion of private investment. Google, BNP Paribas, University of Arts London and others are building a future in what has become a thriving area of London. 45,000 people are soon set to work, live and study at King’s Cross.
The new King’s cross Square was officially opened on 26 September 2013 by the Secretary of State for Transport, Patrick McLoughlin, Mayor of London, Boris Johnson and chief executive of Network Rail, David Higgins.
Lord Deighton went on to say:
Network Rail has done a marvellous job at King’s Cross. The transformation would not be complete today without the government’s support for long term investment decisions and the prioritisation of key strategic infrastructure projects such as this through the National Infrastructure Plan. I want to ensure that across government there is an equally strong focus on improving the delivery of vital infrastructure projects so that the UK remains globally competitive.
We’ve set out what needs to go ahead, and we’re making these projects happen. King’s Cross shows us Britain knows how to deliver.