Network Rail has launched Platform4, a new property development company created to lead major regeneration projects across brownfield rail land. Formed from the merger of London & Continental Railways Ltd and Network Rail’s Property Development business, Platform4 will focus on infrastructure-led development that supports the growth of towns, cities and the railway.
Over the next decade, the company aims to enable the delivery of 40,000 new homes and more than 10 million square feet of commercial space. The programme is expected to drive investment, stimulate economic growth and support the Government’s housing agenda.
Platform4 will work alongside Network Rail’s wider property operations, which include a retail estate that generated more than £914 million in sales last year across 19 managed stations. The new organisation brings together property expertise, regeneration capability and operational rail knowledge to maximise the potential of unused or underutilised railway land.
Opportunities include transforming major stations, station land and former goods yards into new communities that generate social, environmental and commercial value. Together, the development teams behind Platform4 have delivered more than 7,000 homes in the past year and now have a combined pipeline covering 47 towns and cities and 22 London boroughs.
Platform4’s long-term ambition includes:
- 40,000 new homes
- 10 million sq ft of commercial space
- Significant public and community spaces
- £1 billion per year in public value
The organisation will also manage a portfolio of commercial real estate as part of its remit.
Robin Dobson, Chief Executive Officer of Platform4, said:
“Our railways once powered the first industrial revolution. Today they hold the key to the next. 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.”
Jeremy Westlake, Chief Executive of Network Rail, added:
“Today marks a significant milestone as we combine the power of rail and our significant property portfolio to shape communities and drive positive change. Platform4 will help ensure the railway estate continues to deliver value for both the economy and our communities.”
