Business

Britain’s Network Rail Sells Property Portfolio for £1.46 Billion to Fund New Projects

A London North Eastern Railway train approaches King’s Cross rail station in London on June 25, 2018, during a photocall for the re-launch of the rail service on the East Coast mainline (Photo Credit: TOLGA AKMEN/AFP/Getty Images).

By: Radhakrishna N S

Britain’s Network Rail has agreed terms with Telereal Trillium and Blackstone Property Partners for the sale of its commercial estate portfolio. Proceeds from the £1.46 billion transaction will help fund the railway upgrade plan, bringing major improvements for passengers and reducing the need for taxpayers to fund the railway, said Network Rail on Monday (10). Telereal and Blackstone will hold equal ownership stakes and intend to be long-term owners of the estate. Both parties have adopted a ‘tenants first’ approach, cemented in a tenants’ charter, which offers a commitment to engage with all tenants and communities in an open and…

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