By Guy Montague-Jones2019-05-02T10:38:00
The National Audit Office has published a report into Network Rail’s Arches sale that sheds fresh light on the financial details of the deal and reveals how the portfolio fetched more than expected but transaction costs spiralled far beyond initial forecasts.
The report stated that under public ownership, the portfolio, which generated more than £80m of revenues a year for Network Rail, was valued at just £950m. This reflected Network Rail’s limited ability to invest in the portfolio.
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