Porterbrook has agreed a deal with St Modwen to acquire the freehold of the Long Marston Rail Innovation Centre in Warwickshire for an undisclosed price.
The rolling stock financier and asset management company has been operating the 135-acre site since June 2021 and has invested more than £13m to upgrade and enhance facilities across the centre.
Mary Grant, CEO of Porterbrook, said: “This deal provides absolute clarity for our business, our shareholders and the wider rail industry over the long-term future of Long Marston Rail Innovation Centre.
“It gives us the certainty to move forwards with our plans and invest further to deliver an exceptional facility for testing, training, maintenance and storage for the railway.”
