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A new approach to developing land around railways stations is being adopted by the Department for Transport with the launch of Platform4, a development company bringing together Network Rail鈥檚 property team and London & Continental Railways.

Previously the two organisations operated independently, each managing different aspects of surplus rail land across the UK. The fragmented approach often led to inefficiencies, duplicated efforts and missed opportunities for strategic development, the government says.

Platform4 will deliver 40,000 homes over the coming decade, the government says, by disposing of surplus rail land, attracting private investment and accelerating community regeneration. By working together, instead of separately, Platform4 is expected to generate an additional 拢227m by delivering at greater pace and scale, it is claimed.

Platform4 is chaired by Bek Seeley, a former managing director of Lendlease who set up Place Partners UK two years ago and last year was appointed chair of the government's Euston housing delivery group to help make the planned HS2 terminus there viable.

Platform4 (not to be confused with ) has four initial sites earmarked for development:

• Newcastle Forth Goods Yard: opportunity for up to 600 new homes and unlocking additional new homes聽聽
• Manchester Mayfield: opportunity for 1,500 new homes聽聽
• Cambridge: a mixed-use development with 425 homes聽聽
• Nottingham: 200 new homes following 348 already delivered at The Barnum.

Profits generated from the property company will be reinvested into the railways.

Transport secretary Heidi Alexander said: 鈥淥ur railways are more than just connections between places 鈥� they create economic opportunity and drive regeneration.

鈥淚t鈥檚 exciting to picture the thousands of families who will live in these future homes, the vibrant neighbourhoods springing up and the new businesses that will launch thanks to these developments. Platform4 will breathe new life into these spaces, delivering tens of thousands of new homes.鈥�

Home Builders Federation chief executive Neil Jefferson said: 鈥淭he public sector can play a key part in providing the sites for the homes the country needs and we welcome moves to bring more of this land forward for development. Doing so will help address our chronic housing crisis, allow young people to access decent accommodation, create tens of thousands of jobs and generate investment in infrastructure and amenities in communities across the country.鈥�

A British Property Federation spokesperson added: 鈥淭he formation of this new development company is a welcome move that releases surplus and under-utilised public assets to generate an investable return, helps to stimulate local regeneration and economic growth, and aids housing delivery. We hope the company will have a transformative impact on local communities across the country.鈥�

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