Network Rail’s property rental income increased by 18.4% over the past 12 months, the group’s latest accounts show.
In results for the year to 31 March 2011, the company said its property rental income totalled £244m, up from £206m the previous year.
The value of the group’s investment property also rose, to £778m from £764m the year before.
The overall valuation of the railway network at 31 March 2011 was listed as £35bn, up from £32.2bn in 2010.
Group finance director Patrick Butcher said good progress had been made on a number of projects, including the near completion of works for the London 2012 Olympics.
He said the new concourse building at King’s Cross was on target to open in October 2011, and £100m of third-party funding had been secured for the Birmingham Gateway project after a deal was signed with John Lewis for a new store.
nick.whitten@estatesgazette.com
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