The Department has had regular discussions with Network Rail about its commercial estate.
On 10 September, Network Rail announced that it had agreed a £1.46bn sale with Telereal Trillium and Blackstone Property Partners for the sale of its commercial estate portfolio.
Tenants’ existing rights have been safeguarded in this sale and current agreements between Network Rail and tenants will be fully honoured.
The new owner has also agreed to a tenant charter including amongst other commitments to engage in an open and honest manner with their tenants and the community, ongoing transparency regarding publication of data on mix of tenants and the provision of an engagement officer. They have also undertaken to work with long-standing small business tenants that face financial pressure, including offering financial support.