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Congestion Charging May Benefit London Office and Retail

LONDON-Far from deterring businesses from locating in London, Mayor Ken Livingstone's proposed congestion charging might benefit the commercial property sector, a new report from Healey & Baker finds.

By Graham Parker | Updated on May 10, 2001

LONDON-Far from deterring businesses from locating in London, Mayor Ken Livingstone’s proposed congestion charging might benefit the commercial property sector, a new report from Healey & Baker finds. The firm–the EMEA arm of Cushman & Wakefield–commissioned the Centre for Economic and Business Research to model the impact of proposals in Livingstone’s Draft Transport Strategy. A key proposal is to control car use by charging drivers to enter the central London zone and Livingstone aims to force 20% of central London drivers out of their cars and on to public transport.

The researchers concluded that all locations in the proposed charging zone will see a reduction in journey times and a consequent rise in rental values. However, they found that Livingstone’s strategy paper over-estimates the improvement in journey times that congestion charging could deliver.

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