The government is planning a major shake-up of oversight development at UK mainline train stations in an effort to accelerate large schemes and build more housing.
Plans for a new Station Regeneration Company were mooted in chancellor George Osborne’s summer Budget.
It said the government would “introduce a new approach to station redevelopment and commercial land sales on the rail network, building on the experience of regenerating land around King’s Cross station and Stratford in East London”.
It added: “The government will establish a dedicated body to pursue opportunities to realise value from public land and property assets in the rail network, to maximise the benefit to local communities and reduce the burden of public debt.”
Network Rail has traditionally brought forward its own oversight station developments, using a range of techniques including outright sales, development partnerships and its Solum joint venture, in which Kier recently sold its interest to Capital & Counties.
However, the move to create a new centralised body is designed to help fast-track the often complex station regeneration projects by working with other public-sector landowners.
The idea comes after intense discussion within government about how best to bring
forward the development opportunities around the main stations for the proposed High Speed 2 rail link connecting London with the Midlands and the North.
However, ministers are now keen to extend the focus on development on and around stations to other areas in London and across the country.
Network Rail is estimated to have around 10 major development opportunities around London stations alone, which could accommodate thousands of houses.
These include stations such as Clapham Junction, which has long been considered ripe for oversight development.
jack.sidders@estatesgazette.com
