The £500m redevelopment of a swathe of Network Rail-owned stations in London and the south-east is to be given the go-ahead following the agreement of a joint venture with developer Kier Property. Financial Times, The Times

Network Rail said that Kier had been selected for the first phase of a £4bn, 10-year overhaul of its stations and surrounding land sites in the UK. Kier won the agreement ahead of a shortlist of other developers, which was understood to have included St Modwen Properties.

Kier will initially work on a portfolio of six station sites including Enfield Town, Epsom, Guildford, Maidstone East, Twickenham and Walthamstow, as well as a site in Wembley.

The portfolio has a gross development value of more than £500m. The deal could be extended to include other town centre sites in the south-east. Funding, as well as profit share, will be split equally between Network Rail and Kier.