Capital & Counties Properties PLC Acquire Share in Solum Regeneration
Image Courtesy of Network Rail
Capital & Counties Properties PLC (Capco) has exchanged contracts to acquire Kier Limited’s share of its Solum Regeneration joint venture with Network Rail.
Solum Regeneration was established in 2008 by Network Rail to attract private investment into the rail networks and take forward development projects to regenerate under-used railway land around major station sites.
Network Rail’s Solum Regeneration
Kier Property will continue to work on existing projects at Guildford, Twickenham and Bishops Stortford stations.
Stuart Kirkwood, property development director, Network Rail, said: Network Rails partnership with Kier has already delivered three major mixed-use developments at Christchurch, Epsom and Walthamstow Central and secured planning permission for three more. Capcos expertise will help us unlock further regeneration opportunities in London in the next phase of Solums work.
Gary Yardley, managing director and chief investment officer, Capco, commented: Our London-focused business has provided us with valuable experience in creating places and bringing forward ambitious schemes. We are delighted to be entering into this joint venture with Network Rail, which offers the opportunity to take forward significant urban regeneration schemes at key transport interchanges in London.