Network Rail has launched Platform4, a new property development company tasked with transforming brownfield rail land into homes, commercial space and new communities across the UK.

Formed through the merger of London & Continental Railways Ltd and Network Rail's Property Development business, Platform4 will lead infrastructure-led regeneration projects designed to boost economic growth, create jobs, and support the Government's housing targets.

Over the next ten years, Platform4 aims to deliver 40,000 new homes and more than 10 million square feet of commercial space, while generating £1 billion in public value annually. The company’s work will span 47 towns and cities and 22 London boroughs, focusing on transforming underused railway land — from major stations and goods yards to station forecourts — into vibrant, sustainable communities.

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The launch represents a major step forward in how the rail estate is managed, integrating property, infrastructure, and operational rail expertise to unlock land for development and regeneration.

Both of the newly combined development teams have a strong track record, having delivered over 7,000 homes in the past year. Platform4's approach will build on this success, driving investment while supporting Network Rail's commitment to sustainability and community benefit.

Platform4's creation adds to Network Rail’s established property operations, which include a retail estate generating over £914 million in sales last financial year across 19 managed stations.

Through its national programme, Platform4 will enable:

• 40,000 new homes

• 10 million sq ft of commercial space

• Significant public and community spaces

• £1 billion per year in public value

The initiative underscores Network Rail's ambition to make better use of rail-connected land, supporting regeneration and economic development while helping towns and cities across Eastern, North West & Central, Southern, and Wales & Western regions to grow.