New property development company set up to build 40,000 new homes and over 10 million sq ft of commercial space over the next ten years.
Today marks the launch of Platform4, Network Rail’s new property development company, set to develop brownfield rail land.
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 an additional 2,500 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
The company, created from the merger of London & Continental Railways Ltd and Network Rail’s Property Development business will lead infrastructure-led regeneration projects across the rail estate that are vital for the growth of towns, cities, and the railway.
Platform4 will enable 40,000 new homes alongside 10 million sq ft of commercial space over the next ten years. This will drive investment and growth while supporting the Government’s housing agenda.
Platform4 adds to Network Rail’s wider property expertise, which includes a successful retail estate which generated over £914m in sales in the last financial year across its 19 managed stations.
The launch marks a significant step forward in how rail-connected land is used, supporting Platform4’s purpose of leading a national portfolio of regeneration projects. The new organisation brings together property, infrastructure and operational rail know-how to support Network Rail and wider partners.
The potential exists to transform significant areas of railway land – from major stations and station land to former goods yards – into thriving communities. These communities can deliver social, environmental and commercial value for generations to come.
Both development teams have a proven track record in delivering housing, commercial and infrastructure-led schemes, with over 7,000 homes delivered in the last year. By joining together with a shared purpose, Platform4 will deliver even more.
Platform4 has a current nationwide pipeline covering 47 towns and cities and 22 London boroughs. Its ambition over the next decade is to enable:
- – 40,000 new homes
- – 10 million sq ft of commercial space
- – Delivery of significant public and community spaces
- – £1 billion per year in public value
In addition to development and regeneration, Platform4 is also responsible for a portfolio of commercial real estate.
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.”
