Leeds Station may be sold off in privatisation deal
OPERATOR Network Rail is reportedly looking to sell off 18 UK rail hubs, including Leeds Station.
According to The Independent, Citigroup bankers have been appointed to advise on the privatisation of 18 stations, including Reading, London Waterloo and Edinburgh Waverley.
Sales would contribute to the alleviation of Network Rail’s debt, which is predicted to be at £50bn by 2020.
The state-backed organisation became part of the Government in 2014, when officials discovered the state of its financial position.
It was forced to stop the electrification of the TransPennine route following fears over costs.
A Network Rail spokesman said: “We are looking to generate some £1.8bn of funds from our property assets by 2019, enabling us to invest in building a bigger, better railway.
“We’re taking a long hard look at our assets, ensuring we keep what we need to grow and expand the railway but then looking at ways we can realise best value from the rest to reinvest.”
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