Four brownfield rail sites marked for regeneration, with thousands of new homes set to move forward following the official launch of Network Rail’s property development company.
Formed from the merger of London & Continental Railways and Network Rail’s Property Development arm, Platform4, which was announced earlier this year, will spearhead infrastructure-driven projects on underutilised rail estate, with the goal of delivering 40,000 new homes and in excess of 10 million sq ft of commercial space over the next decade.
It aims to attract more than £350 million in private sector investment and is projected to generate £1 billion in public value annually, with profits reinvested into Britain’s railways.
With a nationwide pipeline covering 47 towns and cities and 22 London boroughs, Platform4’s initial development sites include Newcastle Forth Goods Yard, Manchester Mayfield, Cambridge, and Nottingham, collectively expected to deliver 2,700 new homes.
It will also manage a commercial real estate portfolio and work closely with Network Rail Routes and Regions across England, Wales, and selected Scottish projects to align property and operational objectives.
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Robin Dobson, chief executive officer at Platform4, said: “By unlocking and regenerating brownfield land within the rail estate, we will generate further investment, create jobs through the delivery of homes, commercial space and new communities, whilst supporting the government housing agenda.”
The initiative supports government efforts to increase housing supply through brownfield regeneration and better use of surplus transport land.
In line with this, the Treasury launched a consultation in July to review the effectiveness of Land Remediation Relief (LRR), a tax incentive designed to encourage the regeneration of brownfield sites.
The consultation closed in September, with a response expected in “due course”.
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