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Friday 3 Mar 2006

FIRMS SHORTLISTED FOR EUSTON AND VICTORIA REVAMPS

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National

Exciting transformations of Euston and Victoria stations moved another step forward today as Network Rail announced the shortlist of high-calibre property developers to work with them to help realise the opportunity for each landmark site. The firms will be asked to draw up indicative proposals for the stations over the next 12 weeks. The multi-million pound schemes will enhance the passenger experience as the stations are transformed for future generations. As railways in Britain continue to grow, Euston and Victoria will grow too; meeting the challenges of higher passenger numbers and public demand for new and upgraded amenities. New retail, office, residential and leisure developments at these prime London sites will assist in this regeneration. The Euston shortlist comprises

• British Land
• Chelsfield Partners
• Development Securities
• Grosvenor
• Hines
• More London
• Stanhope

The Victoria shortlist comprises

• British Land
• Development Securities
• Grosvenor
• Hammerson
• Land Securities
• More London
• Stanhope

Network Rail’s deputy Chief Executive, Iain Coucher said: “We were impressed with the high quality of the companies that expressed interest in these schemes. Now with a shortlist in place for both projects, the competition begins for the once-in-a-generation opportunity to transform these stations and contribute to London’s growth.” Network Rail’s ‘pre-qualification’ exercise – where it asks the property marketplace for expressions of interest – came to a close on 16 January. The shortlists were drawn up under the OJEU tendering process (see notes to editors) and scored each company that expressed interest primarily on its a) financial capacity; b) track record; and c) technical competence and capacity. Facts about Euston

• A major transport interchange that has seen little change for some 40 years
• Over 50 million people use this station each year
• The site is the size of Canary Wharf – around 15 acres
• Potential for a mixed use development of greater than 100,000sq metres
• Any redevelopment  would need to safeguard the ability to provide an additional three platforms on the west side of the station

Facts about Victoria

• Victoria is one of Britain’s busiest stations with 115 million users a year
• Network Rail is keen to see sympathetic further development of about 75,000 sq metres to enhance the Grade II listed structure and add to the already extensive passenger facilities.
• Adjacent redevelopment projects at Cardinal Place and Belgrave House show a proven market for high-value offices, retail, residential and leisure uses