Network Rail has removed thousands of railway arches from the sale of its property business, despite having said previously that the estate was being sold in one piece.
Over the past 18 months traders have been forced out of arches by big rent increases. Some tenants said that Network Rail was trying to inflate the value of the properties before they were sold, a claim that it denied.
Four bidders have made the final stage of the process: Kildare Partners, CK Asset Holdings, Terra Firma Capital Partners and a consortium including Blackstone. The 5,500 properties, most of which are arches, are expected to be sold for up to £1.4bn.
Click here for the full Times article (£)
https://www.thetimes.co.uk/edition/business/network-rail-pulls-arches-from-sale-0mq7xjns6
