With London in a heightened state of excitement as the Olympics draw ever closer, it has been revealed that an alternative mode of transport will hopefully be up and running in time for the opening ceremony in the Olympic Park commercial property. The £50 million cable car project, known as the Emirates Air Line, has been eagerly anticipated by crowds staying in London for the Olympic Games, and is expected to greatly profit East London commercial property businesses by providing a quick and scenic mode of transport across the Thames.
Transport Secretary Justine Greening has now received an application for final approval on the new network, as the Department for Transport has the final say on when the cable cars will be open for business. However, as her department has worked closely with contractors and commercial property businesses involved in the construction and running of the transportation device, final approval is not expected to take long.
The system will be made up of 34 gondolas capable of transporting 2,500 passengers every hour, and passengers will enjoy a panoramic view of London’s commercial properties and famous locations from 160 feet above the river. The service will run between two of London’s best known commercial properties – the ExCel Arena exhibition centre and the o2 Arena, which was formerly the Millennium Dome.
There are now plans in place to create a consortium, which will be responsible for building and operating the cable car network. It is expected to be led by Mace, an international consultancy and construction company who were responsible for the construction of the London Eye commercial property. They are also currently in the process of constructing the multi million pound Shard Tower commercial property in the heart of London.
London Mayor Boris Johnson has so far refused to comment on whether the cable car network will be open to the public by the opening ceremony of the Olympic Games; however, he has hinted that commercial property businesses in London can expect to benefit from the additional means of transport this summer.
He said; “Gliding serenely through the air across the Thames will provide a truly sublime, bird’s eye view of our wonderful city.
“This innovative airborne travel link will be a vital component in the ongoing renaissance of a vibrant easterly quarter of the Capital, providing a much needed river crossing.”
An additional river crossing would certainly benefit the commercial property businesses in the East End of London, particularly in the Leyton area, which has recently undergone extensive refurbishment to make the area more attractive to consumers. However, the real question is whether the cable car scheme will prove to be profitable, and continue to supply East End commercial properties with customers, once the closing ceremony for the Olympics has taken place.
Do you think the cable car network will benefit commercial properties in the East End of London, and also help to solve the issues of congestion on public transport during the Olympics? Or do you think the whole project is a waste of money that could have been spent helping small commercial property businesses in the area?
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