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London and Continental Railways

Volume 495: debated on Tuesday 7 July 2009

To ask the Minister of State, Department for Transport when he expects the sale of property associated with London & Continental Rail Ltd to be completed. (284255)

London and Continental Railways Ltd. hold a wide range of property interests, both those associated with the operation of the High Speed One railway, and associated developments.

Of these, by far the most significant in terms of independent commercial value are the development interests at Stratford and Kings Cross. In each case, London and Continental Railways has entered into separate development arrangements which will provide a long-term interest in the commercial potential of the sites.

No decision has yet been made as to when London and Continental Railways should seek to sell these interests. In part, this will depend on an assessment as to which point in the development project a sale would deliver best return to the taxpayer, versus future risk of continued participation.