Network Rail will merge its property activities with its station activities to create a new operating division called Railway Estates. The division will continue to generate significant revenue streams for reinvestment in the railway. At the same time there will be a feasibility study into the possible contracting-out of management of the station retail portfolio and business centres portfolio.
Railway Estates will continue to manage and develop the Company's landholdings – which includes stations, offices, buildings, former goods yards, retail units, disused sidings, depots, industrial land and advertising hoardings. However, the change in emphasis means Network Rail's core activities--the operation, maintenance and renewal of the railway infrastructure - will take priority. Railway Estates Director Deborah Richards will head the new executive group.
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