The new company – named Platform4 – will focus on transforming brownfield rail sites, with four locations already identified in Newcastle, Manchester, Cambridge and Nottingham.
Platform4 is formed through the merger of London & Continental Railways Ltd and Network Rail’s Property Development teams.
Together, these development groups bring a strong track record in delivering housing, commercial space and major infrastructure-led projects, having delivered more than 7,000 homes in the past year.
Robin Dobson, Chief Executive Officer of Platform4 said: “Our railways once powered the first industrial revolution. Today they hold the key to the next.
“By unlocking and regenerating brownfield land within the rail estate, we will generate further investment, create jobs through the delivery of homes, commercial space and new communities, whilst supporting the government housing agenda.”
Jeremy Westlake, Chief Executive of Network Rail added: “Today marks a significant milestone as we combine the power of rail and our significant property portfolio to shape communities and drive positive change. Platform4 will help ensure the railway estate continues to deliver value for both the economy and our communities.”