Sale of Jarvis Rail assets attracts global interest

CONSULTANT surveyor and valuer Edward Symmons has been appointed to sell the assets of Jarvis Rail and Fastline.

The instruction follows the appointment of Deloitte as administrators of the companies, which are part of the York-based Jarvis Group.

Sale items range from two class 56 locomotives, fully rebuild in 2005 at a cost of around £700,000 each to small hand tools.

Steve Mason, the partner managing the disposals, said it was rare for such a diverse range of high quality track plant to come to the market in such quantities.

“As a result we have already received considerable interest from around the world and are in the process of evaluating initial offers,” he said.

Jarvis Rail has recently been involved in track renewal work and upgrades on both the London North Eastern and London North Western sections of the UK rail network.

Fastline is a supplier and operator of on track plant.

Jarvis has called in administrators in March after its lenders refused to extend further support to the company to help it continue trading.