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"First evidence of the 'Crossrail Effect' on the price of new homes was discovered on Monday, after clambering into an £80 million concrete box in Woolwich.
"The submerged chamber at Royal Arsenal is 256 metres long, capacious enough to embrace a falling skyscraper, and designed as the perfect fit for a Crossrail station. The stop will cut the journey time to Bond Street to 21 minutes from 45.
" 'Prices have risen from £450 per square foot to £550 since last June, when it was announced the station would be built into our box," says John Anderson, chairman of Berkeley Group’s East Thames division. His remarks came after a descent to platform level and a tour of the 85-acre former munitions site, which holds 2000 homes, with space for 3000 more."