Network Rail owns significant land and property assets across Britain. Our Commercial Estate business manages a large portfolio of non-core railway-owned property assets, the majority being made up of converted railway arches.
Commercial Estate operates within Network Rail Property, the commercial division of Network Rail.
Network Rail has decided to sell the Commercial Estate business, because it is a non-core property asset and Network Rail ownership/management is not essential for running the railway. This will allow the company to place even more focus on its core business of running a safe, reliable and growing railway.
The business is comprised of around 5,500 properties in England and Wales, the majority of which are railway arches. The sale includes the business management platform. Assets in Scotland are not being sold.
The Commercial Estate is a profitable and successful business that operates commercially and is a viable business to sell. All the proceeds from the sale will be retained by Network Rail and will help us to fund the Railway Upgrade Plan, which is improving and enhancing the rail network for the benefit of passengers and the economy.
The majority of sites will be sold on a leasehold basis, reflecting the fact that these properties will be required for the future operation of the railway. We will retain access rights to these sites, with the new buyer becoming the leaseholder responsible for managing each of the individual properties.
This sale will not impact on the rail network, train operating companies, freight operating companies and other operational partners. Safeguards will be in place to ensure that there will be no impact on the safe and efficient running of the railway.