The Government has announced plans to “transform” disused railway land in Manchester, Newcastle, Nottingham and Cambridge to provide 40,000 homes, as well as green spaces, shops and hotels, by merging two major rail development firms.
The initiative between the Department for Transport and the Ministry of Housing, Communities and Local Government has launched a new company, Platform4, to develop the sites across the UK. It brings together London and Continental Railways Ltd and Network Rail’s Property Team which previously operated independently, in a “fragmented approach which often led to inefficiencies, duplicated efforts and missed opportunities for strategic development,” commented the Government.
It added, in a statement,
“By working together, instead of separately, Platform4 is expected to generate an additional £227m by delivering at greater pace and scale.” It was expected the subsequent developments would total over £1bn in value, with ex-managing director of Lendlease, Bek Seeley, appointed to chair the company.
Transport Secretary, Heidi Alexander (pictured), commented:
“Platform4 will breathe new life into these spaces, delivering tens of thousands of new homes as part of our Plan for Change promise to build 1.5 million homes, while reviving communities around rail stations, supporting jobs and driving economic growth.”
Four sites already earmarked for development include Newcastle Forth Goods Yards, Manchester Mayfield, Cambridge and Nottingham, which together will see over 2,700 new homes delivered and brownfield land transformed into vibrant neighbourhoods:
- Newcastle Forth Goods Yard: opportunity for up to 600 new homes and unlocking additional new homes
- Manchester Mayfield: opportunity for 1,500 new homes
- Cambridge: a mixed-use development with 425 homes
- Nottingham: 200 new homes following 348 successfully delivered homes at The Barnum
Profits generated from the property company “will be reinvested into Britain’s railways, supporting better services and infrastructure while delivering value for passengers and taxpayers,” the Government statement said.
Hosting the launch at its Heaton Quarter development in Newcastle, Keepmoat CEO Ian Hoad said: “Keepmoat is one of the UK’s leading partnership homebuilders and over 80% of our current developments are on brownfield land, so we recognise the huge potential of unlocking more unused railway land to support the delivery of new homes. We are looking forward to continuing to work with our partners to play our part in supporting that delivery.”
Helen Gordon, CEO of Grainger plc, said: “These well-connected locations are ideal for delivering the high-quality, sustainable homes we need. Our partnership with Network Rail, delivering rental homes, highlights how public and private collaboration can accelerate housing delivery, boosting economic growth and vibrant communities.”