Date: 10/09/2018

Network Rail has agreed a controversial deal to sell off its commercial property business to Telereal Trillium and Blackstone for £1.46 billion. The move will see thousands of railway arches, occupied by small businesses, come under the ownership of the investment giants. Telereal and Blackstone will hold equal ownership stakes and said on Monday that they intend to be long-term owners of the estate. Amid fears that existing occupants “ such as bars, bakeries, breweries, garages and hairdressers “ are set for rapid rent increases, the duo claimed to have adopted a tenants first approach.

External links

Network Rail sells arches to investment funds for £1.46bn

ITV News

Network Rail has agreed a controversial deal to sell off its commercial property business to Telereal Trillium and Blackstone for £1.46 billion.The move will see thousands of railway arches, occupied by small businesses, come under the ownership of the investment giants.Telereal and Blackstone will hold equal ownership stakes and said on Monday that they intend to be long-term owners of the estate.Amid fears that existing occupants “ such as bars, bakeries, breweries, garages and hairdressers “ are set for rapid rent increases, the duo claimed to have adopted a tenants first approach.