Properties

The properties fall into the following categories:

1.     “Anomalies” of property ownership arising from rail privatisation in 1994 where the position of the fence or electrification of the neighbouring railway line renders future sales uneconomic.

2.     Assets which should be managed by a body with a rail-specific remit such as memorials to railway staff killed during the wars and those who died in railway accidents

3.     Assets which are important to the railway industry such as a high speed, electrified test track and an operational railway currently leased as a heritage railway.

 Structures

The structures are located adjacent to Network Rail property, and the safe maintenance of them is crucial to the safe running of the operational railway.

The properties and structures in question are listed in full at the end of this IA, though they are likely to be subject to change pending the outcome of the consultation and negotiations with NR.

Excluding the test track at Old Dalby the properties listed at the end of this IA are worth approximately £0.5m on the open market, although they may have a greater value to NR as the operator of the railway infrastructure. The value of the test track is difficult to estimate as the profit (or potentially loss) it generates is very unclear and depends on a number of outside factors.

The assets important to the railway industry include Old Dalby, a high-speed, electrified railway available for testing rolling stock and other purposes. It includes a test centre held on lease from a subsidiary of UK Coal currently leased to London Underground for testing and mileage accumulation by new trains. As owner and operator of the national rail network it is sensible that Network Rail assume ownership of the test track.