The Summer Budget stated “the government will introduce a new approach to station redevelopment and commercial land sales on the rail network, building on the experience of regenerating land around Kings Cross Station and Stratford in East London – the government will establish a dedicated body to focus on pursuing opportunities to realise value from public land and property assets in the rail network to both maximise the benefit to local communities and reduce the burden of public debt”. Discussions are taking place to develop an approach that maximises value for the taxpayer and supports the safe and efficient operation of the rail network.
The disposal of Network Rail’s assets must be in accordance with its network licence, which is regulated by the Office of Rail and Road. London and Continental Railways’ asset disposals are approved by the company’s board and the Department for Transport.
Sale contracts for land will not impose conditions on the seller in relation to noise and vibration. Proximity to the railway and related issues such as noise and vibration are generally considered as part of the planning process, which is regulated by the relevant planning authority in accordance with environmental legislation.