Development Gain and Economic Benefits of East West Rail, Central Bedfordshire Council

Client: Central Bedfordshire Council

GL Hearn led a team including Capita and LDA Design to assess the development value gain and economic benefits associated with options for new railway stations required for East West Rail (Oxford to Cambridge arc). This included considering the potential for new settlements at the proposed station locations and effects on house price and commercial values.

The Issue
The client required a robust analysis of house price change associated with the enhanced connectivity provided by East West Rail stations. There is no guidance and little precedent on the methodology.

The GL Hearn Solution
GL Hearn developed a triangulated approach to forecasting house price change. This involved a benchmarking local prices, heat-mapping regional and sub regional house prices along high connectivity corridors, developing station house price isochrones and engaging with property market agents. Economic benefits were estimated using the DfT webtag model.

The report now forms part of the borough’s local plan evidence base and has informed new site allocations in the emerging local plan.

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