End of the line for red tape
Article Abstract:
Some observers point out the government will have to devise other ways to encourage greater investment in rail station development rather than rely on penalising the train operating companies and Railtrack. They could make changes to the law to allow the train operating companies to buy land and therefore benefit from redevelopment, and offset the cost of improving the railway infrastructure. Privatisation has led to a wide variety of interests being involved in any plans to invest in station redevelopment, with some rail operating companies only having leases until 2004.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1999
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Shopping at the next station
Article Abstract:
The U.K.'s Railtrack manages many major mainline railway stations, including London's Victoria, Leeds, Edinburgh Waverley and Gatwick Airport. Some have been marked out for commercial development and options being considered include retail and trading space. The company believes that stations have considerable development potential and has already opened a walk-in medical centre on the concourse at London's Victoria. Railtrack's rental income from its stations has risen to 40 million pounds sterling in 1996 from just 8 million pounds sterling in 1985.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1996
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