Railway stations are good for business, the community and commerce.
Investing in them boosts urban regeneration, drives up employment levels and increases property values by up to 30 per cent, says a study commissioned by Network Rail. The report, by Steer Davies Gleave, confirms that station investment can have a major impact on urban regeneration within the surrounding area, stimulate development, and increase economic activity and employment levels.
Says David Biggs, Network Rail director of property, ‘This report confirms that investing in stations not only delivers improvements for passengers, but also boosts economic activity and leads to further investment in the local economy. The continued growth in passenger numbers has allowed Network Rail to attract partners to regenerate the areas around major transport hubs.
‘Birmingham New Street is a great example; we are delivering a radically new station gateway in partnership with the council and John Lewis, transforming the south side of Birmingham city centre.’ It’s official – railway stations can act as catalysts for wider regeneration.