Network Rail has agreed a multi-million pound deal to sell several property assets from its London portfolio to The Arch Company (Arch Co).
The portfolio comprises a mix of railway arches and investment assets, including in Borough Market, and usages include light industrial, retail and food and beverage outlets. Proceeds from the sale will be reinvested directly back into Britain’s railway infrastructure.
Gary Bostock, property director for Network Rail southern region, said: “This is a fantastic result for both the railway and the customers who use it, alongside strengthening our partnership with Arch Co and making a valuable contribution to the future of Britain’s railway. Our relationship with Arch Co continues to deliver positive outcomes for both the estate and the communities it serves with this latest transaction being a great example of that partnership in action.”
Craig McWilliam, chief executive officer of The Arch Company, added: “These assets are a natural fit with our existing estate and represent another significant investment in London. They bring a mix of established businesses and opportunities for future growth, underlining our confidence in the capital and the small businesses and entrepreneurs that drive its success.”
