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News - 06/06/2018

Heathrow Airport - third runway approved by ministers

Oliver du Sautoy, Head of Research, at Lambert Smith Hampton comments:

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“This is welcome news for the business community of West London, and the wider Thames Valley region:

  • A three-runway Heathrow would enable capacity for up to 740,000 flights a year and will meet projected demand until at least 2040.
  • 70,000 new jobs will be created boosting the local, and wider economy.
  • Heathrow will compete  with Paris, Frankfurt and Amsterdam as a leading international hub airport - with routes to around 40 new destinations.
  • Inward investment will flourish, attracting international firms to locate in and around Heathrow especially those emerging economies with few direct flights – Mexico, Brazil, China and Indonesia.
  • Long term security for property owners and developers in the area with Chiswick, Ealing and Hammersmith in West London, together with key towns along the M4, such as Bracknell, Reading and Maidenhead set to benefit.
  • On the occupier side, additional airport capacity would allow more cargo to pass through the airport, driving demand for new warehousing development in the area.
  • Expectation that a wave of global technology companies are likely to re-locate due to international connectivity.

“This, alongside the other co-existing infrastructure developments, namely WRAtH, Crossrail and the Elizabeth Line will cement Thames Valley’s status as a business destination of choice.

“But of course, key challenges remain principally environmental concerns – air traffic, noise, and pollution – which will need to be addressed.”

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