21 October 2025
The Railway Industry Association (RIA) has today (21 October) published a report calling for a new model for investment in railway stations to boost transport, housing and growth. It identifies the 2,500 stations in mainland Great Britain as an untapped resource which could and should be harnessed for the place-based regeneration of local communities as well as increasing the supply of housing.
A cross-industry group convened by RIA, has developed ‘Station Investment Zones: A new model for investment in transport, housing and growth’ which is being launched in Parliament on 21 October. Key recommendations include:
- The creation of new Station Investment Zones, which adapt the existing Investment Zone model to cover roughly an 800-meter radius (about a ten-minute walk) around stations. Within these zones, planning and tax incentives would be aligned to support new housing, commercial development and improved transport.
- An innovative investment model, where the private and public sectors can co-invest in a wide range of local improvements, such as integrated transport hubs and increased amenities for the community. This would draw on the Mutual Investment Model already used in Wales where the public sector can take a share in any proceeds.
- A scalable approach that works across the UK to bring together groups of stations as a portfolio, to establish the economies of scale that will help attract private investment and help reduce costs.
This paper proposes a new approach which is public spending neutral, not requiring new Government funding, but seeking to make use of all the different revenue streams potentially available.
Commenting on the report Darren Caplan, Chief Executive of the Railway Industry Association said:
“The railway is the economic backbone of the United Kingdom with station redevelopments such as London King’s Cross St Pancras demonstrating the transformative power of rail investment. Our proposal builds on this and other examples and shows how an innovative collaboration between the public and private sector can build homes, create jobs, regenerate local economies and improve accessible transport.”
Transport Committee Chair Ruth Cadbury MP said:
“During the Committee’s ‘Rail investment pipelines’ inquiry, a range of industry stakeholders told us that our country needs to up its game in harnessing private investment to improve rail infrastructure. Tying that investment to opportunities to redevelop town centres with much needed housing and other amenities is the kind of two-birds-one-stone thinking from RIA that we need to get things moving.”
Jacqueline Starr, Executive Chair and CEO of Rail Delivery Group said:
“Railway stations are the economic anchors of our communities, sitting at the heart of towns and cities across Great Britain and contributing around £98 billion each year to local economies.
“Developing homes and communities around stations is vital to unlocking further economic, environmental, and social value creating resilient, connected places where people and businesses can thrive.
“As the industry moves towards the Great British Railways, there’s an opportunity to reform the rail sector and ensure it works hand in hand with partners beyond the rail industry to deliver the Government's wider housing and economic policy objectives, resulting in long-term benefits for all.”
Campaign for Better Transport Chief Executive Ben Plowden said:
“This report rightly highlights that Britain’s railway stations are not just transport assets, but potentially powerful catalysts for housing, jobs and local regeneration. By creating Station Investment Zones we can unlock the full potential of these places to support growth, improve accessibility and deliver the sustainable communities the country needs. Campaign for Better Transport supports this vision and urges the Government to ensure that GBR gives strategic priority to unlocking the social and economic potential of rail stations as it develops the network.”
Community Rail Chief Executive Jools Townsend said:
“Involving and empowering communities is essential to shaping station development: ensuring stations are inclusive, welcoming, and meet local needs. It’s encouraging to see this recognised in RIA's report, and it’s something community rail is uniquely placed to support through local insight, strong partnerships, and deep-rooted engagement, helping stations to become true gateways to opportunity.”