Bringing this back up top as the dedicated railways thread. Shame all the rail tangents on the Brexit thread couldn't be on this too.
Some news from Friday. I don't know what BB&F thinks- looks like the sort of short termism that gives rail a (sometimes undeserved) bad name- filling a budget gap by selling good assets because they're "non-core".
http://www.railtechnologymagazine.co...cial-portfolio
In defence of the Chancellor (who could have provided a bail out but didn't) rail investment has been protected reasonably well, and everyone seems to agree that Network Rail have overspent badly. But even so.
Some news from Friday. I don't know what BB&F thinks- looks like the sort of short termism that gives rail a (sometimes undeserved) bad name- filling a budget gap by selling good assets because they're "non-core".
http://www.railtechnologymagazine.co...cial-portfolio
Network Rail will seek a major cash boost through the sale of its commercial property portfolio in England and Wales, announced today.
The infrastructure manager is looking for private bidders on a mostly leaseholder basis while retaining the freeholds, meaning it can retain control of access to the properties but still receive an immediate financial gain.
Most of the 5,500 properties in the portfolio that are up for grabs are spaces under rail arches, which means access to them is important for Network Rail to continue its network operations.
While no firm announcement has been made regarding how much the sale will generate, sources estimate that it will be worth more than £1bn – although this figure has not been formally confirmed.
Despite its success and profitability, the decision has been taken to sell off the business because Network Rail considers it a “non-core property asset” which is not essential to keep the railway running. It hopes it will now be able to “place even more focus” on its core business of improving the passenger experience and running a safe and reliable network.
The infrastructure manager is looking for private bidders on a mostly leaseholder basis while retaining the freeholds, meaning it can retain control of access to the properties but still receive an immediate financial gain.
Most of the 5,500 properties in the portfolio that are up for grabs are spaces under rail arches, which means access to them is important for Network Rail to continue its network operations.
While no firm announcement has been made regarding how much the sale will generate, sources estimate that it will be worth more than £1bn – although this figure has not been formally confirmed.
Despite its success and profitability, the decision has been taken to sell off the business because Network Rail considers it a “non-core property asset” which is not essential to keep the railway running. It hopes it will now be able to “place even more focus” on its core business of improving the passenger experience and running a safe and reliable network.
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