Network Rail has shortlisted seven major developers bidding for a regeneration across London and the South East.
British Land, Capital & Counties, Explore Investments, Kier Property, Lend Lease Europe, Muse Developments and St Modwen have all expressed interest in forming a 50:50 joint venture with the rail firm.
Regeneration
The partnership will involve the regeneration of Network Rail’s estate at Twickenham, Guildford, Wembley Cutting, Walthamstow Central, Enfield Town Station, Epsom , Maidstone East and Paddington Enterprise House.
Gravy train
‘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,’ said Mick Martin, Network Rail’s director of commercial property. ‘It was a difficult exercise to shortlist and we thank all twenty 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.’
Reinvestment plans
Network Rail said it is looking to unlock the commercial potential in its stations in order to reinvest the money in improving the railway and improving the travelling experience for passengers.
It is hoping to announce the preferred development in Spring next year.
King Sturge is advising Network Rail.
