Investment in rail stations could result in a 30% increase in nearby property prices, a Network Rail study has claimed.
The study, undertaken for Network Rail by transport consultants Steer Davies Gleave, also said station investment would act as a catalyst for wider regeneration.
Local property values would rise because a more attractive gateway to towns and cities would improve the image of a location, attracting homemakers and employers.
Network Rail, which manages 18 UK stations, has already formed a 10-year, £500m joint venture with Kier Property to regenerate stations in the South East, including those at Enfield and Walthamstow.
David Biggs, Network Rail’s director of property, said: “This report confirms that investing in stations not only delivers improvements for passengers, but also boosts economic activity and leads to further investment in the local economy.”
He added that the business had formed other redevelopment partnerships, including with John Lewis to transform the south side of Birmingham city centre.
joanna.bourke@estatesgazette.com
