Civils and stations

04.04.08

Network Rail and Kier announce multi-site development joint venture

Revamped stations and new facilities for passengers in London and the South East have been signalled as Network Rail selected a preferred development partner for its innovative multi-site joint venture.

Network Rail and Kier Property Limited (Kier) will work together in equal partnership to regenerate brownfield sites. The initial portfolio of sites are six stations at Enfield Town, Epsom, Guildford, Maidstone East, Twickenham and Walthamstow and a further site at Wembley Cutting and have a gross development value in excess of £500m. The partnership will be a catalyst for sustainable regeneration for these and potentially many more important town centre sites.

Mick Martin, Network Rail’s director, commercial property said: “This is a pioneering deal for Network Rail. By creating a true partnership with Kier, each of us having a 50% stake, we will maximise the value of the chosen sites, delivering significant passenger benefits and creating a sustainable income stream to improve the railway for years to come.

“By simplifying the development process and reducing the cost and time taken to deliver successful and profitable developments we can deliver real improvements to stations and facilities for communities. This is the first of many changes we will make to enhance value from our assets. Network Rail is open to business and willing to tap into development expertise to release commercial potential on our estate.”

Nigel Turner, Kier Property’s commercial director added: “We are absolutely delighted to be Network Rail’s chosen development partner for the first multi-site joint venture in the South East. The sites are all in core commercial and residential locations, where there is a real opportunity to create some stunning developments around existing transport hubs. This is a first-class regeneration opportunity.

“Kier see this joint venture as a long term partnership, where our development expertise can add value through simplification. Working together with other parts of the Kier Group including Kier Rail we will aim to bring wide ranging skills to the Network Rail estate to the benefit of the joint venture.”

Of the seven schemes identified at this stage, developments are likely to include residential, retail and office accommodation.

Tell us what you think – have your say below, or email us directly at opinion@railtechnologymagazine.com

Comments

There are no comments. Why not be the first?

Add your comment

 

rail technology magazine tv

more videos >

latest rail news

Maritime Transport launch new rail services

17/07/2019Maritime Transport launch new rail services

Maritime Transport has launched two new rail services from DP World London Gateway to its rail terminals in Trafford Park and Wakefield. It ... more >
Campaign for Windsor Link Railway to be revived

17/07/2019Campaign for Windsor Link Railway to be revived

A campaign for a rail link between Windsor and Heathrow Airport is to be revived, after the scheme was turned down by the Department for Transpor... more >
Conwy Valley Line to partly reopen tomorrow

17/07/2019Conwy Valley Line to partly reopen tomorrow

The Conwy Valley line is set to reopen for passengers ahead of the National Eisteddfod in Llanrwst, Network Rail has announced. Llandud... more >

editor's comment

23/01/2018Out with the old...

Despite a few disappointing policy announcements, especially for the electrification aficionados amongst us, 2017 was, like Darren Caplan writes on page 20, a year generally marked by positive news for the rail industry. We polished off the iconic Ordsall Chord (p32), hit some solid milestones on Thameslink (p40), progressed on ambitious rolling stock orders (p16), and finally started moving forward on HS2 (p14) ‒ paving the way for a New Ye... read more >

last word

Encouraging youngsters to be safe on the railway

Encouraging youngsters to be safe on the railway

This summer, Arriva Group's CrossCountry and the Scout Association joined to launch a new partnership to promote rail safety among young people. Chris Leech MBE, business community manager at the... more > more last word articles >

'the sleepers' daily blog

Apprentice to Co-leading the Rail Sector Deal

05/06/2019Apprentice to Co-leading the Rail Sector Deal

In a series of Q&A’s with key speakers on the run up to TransCityRail Midlands, we caught up with TransCityRail panellist and Amey’s commercial account director, Anna Delvecchio, for her insight into what the Rail Sector Deal means for the rail industry and its supply chain. Anna started her career as an apprentice at the age o... more >
read more blog posts from 'the sleeper' >

comment

The challenge of completing Crossrail

05/07/2019The challenge of completing Crossrail

With a new plan now in place to deliver Crossrail, Hedley Ayres, National Audit Office manager, major projects and programmes, takes a look at ho... more >
Preparing the industry to deliver trains for the future

04/07/2019Preparing the industry to deliver trains for the future

The move to decarbonise the rail network involves shifting to cleaner modes of traction by 2050. David Clarke, technical director at the Railway ... more >
Sunshine future beckons for South Wales Railways, says 10:10 Climate Action’s Leo Murray

02/07/2019Sunshine future beckons for South Wales Railways, says 10:10 Climate Action’s Leo Murray

Smart electrification is the way to boost clean energy resources, argues Leo Murray, director at 10:10 Climate Action. Contractors are clear... more >
Ambition doesn’t have to be expensive, says Midland Connect's Maria Machancoses

02/07/2019Ambition doesn’t have to be expensive, says Midland Connect's Maria Machancoses

The TCR Midlands conference is only days away and tickets are going fast for the sector event of the year at the Vox Conference Centre in Birming... more >

rail industry focus

View all News

interviews

Andrew Haines, CE of Network Rail, tells BBC News his organisation could issue future rail franchises

24/06/2019Andrew Haines, CE of Network Rail, tells BBC News his organisation could issue future rail franchises

By Ewan Quayle, Rail Technology Magazine Reporter Andrew Haines, the Chief Executive of Network Rail, has told the Today programme on R... more >