The Government has launched ‘Platform4’, a company set up to deliver up to 40,000 homes over the next 10 years by turning unused rail property into neighbourhoods.
Transport Secretary Heidi Alexander said thousands of first-time buyers (FTBs) and families would benefit as brownfield sites are opened up for new developments across the country.
Previously, London and Continental Railways Ltd and Network Rail’s property team worked separately, which led to inefficiencies and missed chances for development.
Now merged as Platform4, the company is expected to bring in an extra £227m by speeding up delivery and working at a larger scale.
The move is set to kickstart £1bn worth of new developments and attract over £350m in private sector investment.
Platform4 will focus on sites in cities including Manchester, Newcastle, Nottingham and Cambridge.
Four sites have already been earmarked: Newcastle Forth Goods Yard with an opportunity for up to 600 homes, Manchester Mayfield with up to 1,500 homes, Cambridge with 425 homes as part of a mixed-use scheme, and Nottingham with 200 new homes following 348 already delivered at The Barnum.
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.”
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.
“Platform4 will champion putting stations at the heart of communities, unlocking growth, regeneration and opportunities in surrounding and connected areas.”
Rayner added: “The company has been formed from the merger of London and Continental Railways Limited and Network Rail’s property development team.”
Profits from Platform4 will be reinvested into the railways, supporting services and infrastructure.
Bek Seeley, who previously led Lendlease’s development business in Europe and chairs the Euston housing delivery group, has been appointed chair of Platform4.
Seeley 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.”
Ian Hoad, CEO of Keepmoat, said: “We are delighted to welcome Heidi Alexander, secretary of state for transport and our partners from Network Rail to our Heaton Quarter Development in Newcastle, to announce the launch of Platform4, which will help to unlock the delivery of thousands of much needed new homes cross the UK.
“Keepmoat is one of the UK’s leading partnership homebuilders and over 80% of our current developments are on brownfield land, so we recognise the huge potential of unlocking more unused railway land to support the delivery of new homes.
“We are looking forward to continuing to work with our partners to play our part in supporting that delivery.”
Helen Gordon, CEO of Grainger plc, said: “Platform4’s launch, with its focus on brownfield railway sites, is most welcome.
“These well-connected locations are ideal for delivering the high-quality, sustainable homes we need.
“Our partnership with Network Rail, delivering rental homes, highlights how public and private collaboration can accelerate housing delivery, boosting economic growth and vibrant communities.”
Neil Jefferson, CEO at the Home Builders Federation, said: “The public sector can play a key part in providing the sites for the homes the country needs and we welcome moves to bring more of this land forward for development.
“Doing so will help address our chronic housing crisis, allow young people to access decent accommodation, create tens of thousands of jobs and generate investment in infrastructure and amenities in communities across the country.”
The British Property Federation said: “The formation of this new development company is a welcome move that releases surplus and under-utilised public assets to generate an investable return, helps to stimulate local regeneration and economic growth, and aids housing delivery.
“We hope the company will have a transformative impact on local communities across the country.”
