Network Rail has launched a new property development company, with ambitions to deliver 40,000 new homes and 10 million sq ft of commercial space over the next decade.

The new business, named Platform4, will focus on regenerating brownfield land within the rail estate. Four initial sites have already been identified in Newcastle, Manchester, Cambridge and Nottingham.

Platform4 has been formed through the merger of London & Continental Railways Ltd with Network Rail’s existing Property Development operations. Together, the combined team has a strong track record in housing, commercial and infrastructure-led projects, having delivered more than 7,000 homes in the past year.

Robin Dobson, Chief Executive Officer of Platform4, said that the UK’s railways, which once helped drive the first industrial revolution, now had a vital role to play in the next wave of regeneration. He said that by unlocking and transforming brownfield sites, Platform4 would attract further investment, support job creation and help deliver new homes, commercial space and communities in line with the government’s housing ambitions.

Jeremy Westlake, Chief Executive of Network Rail, described the launch as a significant milestone, combining the strength of the rail network with a substantial property portfolio. He said Platform4 would help ensure the railway estate continues to create value for both the wider economy and local communities.

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