Network Rail looks for rail development partner

Rail operator Network Rail has revealed that it is looking for a partner to develop a number of brownfield sites near stations in the London and the south-east.

Plans for the £500 million project, which involves sites such as Twickenham, Wembley Cutting, Walthamstow Central, Epsom and Paddington Enterprise House, are set to go-ahead once a suitable deal can be struck.

The aim of the project is to bring sustainable development and economic progress to the affected areas, while Network Rail will also work with train providers and the local community to ensure passenger benefits.

Explaining the development, Mick Martin, director of commercial property, said: “This is the first deal of its kind for Network Rail.

“This joint venture will expedite real improvements to stations and facilities for local communities, and is the first of many changes we will make to improve value creation from our assets.”

The news follows Network Rail’s decision, announced last year, to abandon a £200 million re-development scheme at Guilford with developer Redrow Regeneration.