According to sources, Network Rail is preparing to sell its biggest stations to developers and shopping centre owners. Citigroup has been hired to look at options for the concession or sale of 18 major stations, such as London Waterloo, Reading, Leeds and Edinburgh Waverley. The move could help to reduce Network Rail’s debt as well as streamline the overly complicated organisation.
Not all stations would be sold, with several of them unavailable as they are undergoing substantial expansion work over the next five years. Options will also include asking companies to run just the shops in the stations, grouping several together for sale, or offering individual concessions.
The concession model has already been used at St Pancras station, which is run by HS1.
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