30 year concession, govt maintains ownership. Bloody savvy if you ask me. That means the CTRL only cost £2.9bn to build in effect. And a private leaseholder will want to get traffic up, and will no doubt do it better than the govt (fingers crossed)
Though 30 years later will need major renewals, is the onus on the buyer to return it in the exact condition it was awarded or are they going to run it down and skimp on maintenance near the end of the lease?
Still £2.1bn, it was only expected to raise £1.5bn.
Renewals won't cost much compared to the cost of construction. Its pocket money by comparison. I doubt there's any such stipulation, I imagine the renewals will be paid by whoever has the concession at the time the renewals are required, as dictated by monitoring its condition.
Anyone know if this includes revenue from St.Pancras and Stratford stations or is this just the line itself? London and Continental owned the land around Stratford. If I remember right Stratford City was a joint venture with London and Continental and thus Westfield shopping centre and all the potential flats, hotels, offices etc. will be income for L&C. Who owns St.Pancras and its shops, hotel and restaurants? Those were expensive parts of the project, £800m for the station renovation and extension. Is this new lease just for the platforms and direct passenger facilities? If rent from the hotel, shops and sale of land around Stratford is in addition to this deal then it is even better.
"High Speed 1 will be split from the two other arms of state-owned London & Continental Railways. One of the remaining arms holds the UK interest in Eurostar, while the other holds LCR's property interests."
So the question is how much are LCR's property interests worth? If it is over £2.9bn then the Government is in credit without even taking into account benefits of improved transport, tax receipts etc..
I think it is just the line itself. HS1 doesn't include St Pancras station, only the line. I think, if I understand this correct, the lease is to operate HS1 Ltd, a company with sole rights to operate over HS1 the infrastructure aka CTRL, which remains in the ownership of the govt. I could be wrong though. But this is the gist I got from the various reports.
Yeah thats good news. The Snodland and Ayelsford areas are quite highly populated - I can imagine that a stop might be added at some point. AFAIK there are quite a lot of developments going on in that part of the medway valley.
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