FIRMS SHORTLISTED FOR MULTI-SITE RAILWAY REGENERATION DEVELOPMENT

Thursday 22 Nov 2007

FIRMS SHORTLISTED FOR MULTI-SITE RAILWAY REGENERATION DEVELOPMENT

Region & Route:: National

Regeneration of sites in London and the South East and the upgrade of rail facilities got closer today with the issuing of an invitation to tender by Network Rail to seven property developers. The shortlisted firms – British Land plc, Capital & Counties, Explore Investments Ltd, Kier Property ltd, Lend Lease Europe Ltd, Muse Developments Ltd, St Modwen Properties plc – have expressed interest in the multi-site regeneration project encompassing development at Twickenham, Guildford, Wembley Cutting, Walthamstow Central, Enfield Town Station, Epsom, Maidstone East and Paddington Enterprise House. Mick Martin, Network Rail’s Director of Commercial Property said: “We were impressed with the quality and the quantity of the companies that showed interest in working with us to deliver real value from our estate – it was a difficult exercise to shortlist and we thank all 20 companies for their efforts so far. We are very excited about taking the competition to the next stage and then delivering on the huge potential that this package of work presents.” The 50:50 multi-site joint venture, when established with the winning development partner, will not only generate commercial gain to be re-invested in improving the railway but will regenerate the selected stations and improve the travelling experience for rail passengers. Network Rail hopes to be a position to announce its preferred development partner in Spring 2008. It is being advised by King Sturge.

Notes to editors

We are unlocking the commercial potential at our main London stations in order to invest the proceeds in passenger benefits. Shortly we will be announcing plans for Euston and Victoria stations and work to upgrade London Bridge and King’s Cross begins soon. We are also working with stakeholders to develop plans for Waterloo.

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We own, operate and develop Britain's railway infrastructure; that's 20,000 miles of track, 30,000 bridges, tunnels and viaducts and the thousands of signals, level crossings and stations. We run 20 of the UK's largest stations while all the others, over 2,500, are run by the country's train operating companies.

Usually, there are almost five million journeys made in the UK and over 600 freight trains run on the network. People depend on Britain's railway for their daily commute, to visit friends and loved ones and to get them home safe every day. Our role is to deliver a safe and reliable railway, so we carefully manage and deliver thousands of projects every year that form part of the multi-billion pound Railway Upgrade Plan, to grow and expand the nation's railway network to respond to the tremendous growth and demand the railway has experienced - a doubling of passenger journeys over the past 20 years.

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