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Thursday 5 Apr 2007

CANNON STREET STATION FIRES REDEVELOPMENT

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National

A major transformation of Cannon Street station is about to get under way as part of a £360m scheme to create a new retail and office development around one of the country's busiest transport interchanges in the heart of the City of London. The project will fund significant improvements to the rail station and also lead to the upgrading of the Cannon Street London Underground station. Work will be carried out by Hines, one of the world’s largest real estate companies. Construction will get under way in the summer of 2007 and is scheduled for completion in 2010. The station will be more accessible for the 27m people who use it each year, supporting future passenger growth and offering new shops and relocated ticketing facilities. The unattractive 1960s building above the station will be demolished to make way for a new mixed-use development, designed by Foggo Associates. It will contain over 400,000 sq ft of premier office space, plus 17,000 sq ft of station retail space. Mick Martin, Director of Commercial Property for Network Rail, commented: "The redevelopment of Cannon Street is part of our wide-ranging programme of investment in Britain's busiest stations. Together with Hines, we will deliver a wide range of improvements to Cannon Street station at no additional cost to the taxpayer, or fare paying passenger. The finished station will be less congested and more accessible for passengers and will come without any disruption to weekday Southeastern train services. Stephen Musgrave, Managing Director of Hines UK, commented: “This is a really exciting building in an area of the city that is about to undergo a major transformation. It is one of London’s principal transport interchanges, and with our partners, Network Rail, we will create a project of the highest quality.” Nigel Jarrett, spokesman for Southeastern, commented: "We are very supportive of this project and the improvements it will undoubtedly bring to the facilities at Cannon Street station."