The government has unveiled a new development company, Platform4, which will kickstart the delivery of new homes on surplus railway land.
Transport secretary, Heidi Alexander, launched the development company, which will target the building of 40,000 new homes on brownfield sites over the next decade.
Previously, London and Continental Railways Ltd and Network Rail’s Property Team operated independently, each managing different aspects of surplus rail land across the UK. This fragmented approach often led to inefficiencies, duplicated efforts and missed opportunities for strategic development.
Now, Platform4 will bring these two functions, skills and capabilities together in a unified structure to deliver the new homes by disposing of surplus rail land, attracting private investment and accelerating community regeneration. Platform4 is expected to generate £227million more than the individual firms by delivering at a greater pace and scale.
Neighbourhoods in cities including Manchester, Newcastle, Nottingham and Cambridge will be transformed with homes, green spaces, shops and hotels, as well as creating thousands of jobs.
Platform4, which will be chaired by former Lendlease boss and founder of Place Partners UK, Bek Seeley, will aim to attract over £350million in private sector investment.
Transport secretary, Heidi Alexander, said: “Our railways are more than just connections between places – they create economic opportunity and drive regeneration.”
“It’s exciting to picture the thousands of families who will live in these future homes, the vibrant neighbourhoods springing up and the new businesses that will launch thanks to these developments.”
“Platform4 will breathe new life into these spaces, delivering tens of thousands of new homes as part of our Plan for Change promise to build 1.5 million homes, while reviving communities around rail stations, supporting jobs and driving economic growth.”
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 new neighbourhoods.
Deputy prime minister and housing secretary, Angela Rayner, said: “We are facing a housing crisis which has led to a generation being locked out of homeownership, all while land sits empty and disused across the country.”
“We said we’d do everything possible to get Britain building, and that’s why today we’re setting out how we’ll get more homes built across surplus railway network sites in line with our brownfield-first approach and our Plan for Change target of delivering 1.5 million homes.”
Profits generated from the property company will be reinvested into Britain’s railways, supporting better services and infrastructure while delivering value for passengers and taxpayers.
Bek Seeley, chair of Platform4, said: “Platform4 will deliver on key government priorities, creating new homes and jobs and stimulating economic growth. Working alongside our partners and local authorities, we will create sustainable places that bring communities and customers together and leave a positive legacy for future generations.”
