Media centre

Tuesday 6 Jun 2006

EUSTON AND VICTORIA UPGRADE PLANS ON TRACK

Region & Route:

National

Ambitious upgrades to Euston and Victoria stations came to closer to realisation today, as Network Rail received development proposals from some of the biggest names in property. Companies delivering proposals and through to the next stage as part of the ongoing competitive process are: For Euston

• British Land
• Chelsfield Partners
• Development Securities
• Hines

For Victoria

• Development Securities
• Hammerson
• Land Securities
• Stanhope

Network Rail is seeking partners to redevelop the stations to address the demands of a growing railway and create ‘destination stations’ that can be catalysts for regeneration. This will be achieved by unlocking the commercial development potential through new retail, office, residential and leisure facilities thus funding improvements for passengers.Network Rail’s Director, Commercial Property, John Pike said: “We have come a long way in this process since we announced our plans for Euston and Victoria, last year. Every company that has engaged with us on this process has been of exceptionally high calibre and we thank them for all their efforts. “Over the next few months we will be getting more detail from the candidate developers as we work through the proposals and decide on the best way to realise the opportunity at these landmark sites. “We are confident that the eventual plans for each station will enhance the user experience and meet the challenges of higher passenger numbers and public demand for new and upgraded amenities.” The remaining developers continue through the selection process with a view to a preferred partner for each station being selected by Network Rail by the end of the year. ENDS