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In 1996, London & Continental Railways (LCR) was selected by the Government to build and operate the high speed Channel Tunnel Rail Link (CTRL), now called High Speed 1 (HS1) and to own and operate the UK arm of the Eurostar international train service.
It took nine years, thousands of people and millions of man-hours to build. It delivered over 109km of new high-speed railway, the world’s longest span concrete high-speed rail bridge, 47km of cutting edge tunnels, and in St Pancras International, has created a truly world class station. On 6 November 2007, LCR delivered HS1 to the nation on time and to budget. Britain had finally got its first new railway for over a century, and was fully connected to the rapidly expanding European high-speed rail network.
In November 2010, LCR sold HS1 with its 30 year concession for the track and stations to a consortium comprising Borealis Infrastructure and the Ontario Teachers’ Pension Plan for £2.1 billion
From the very beginning, one of the key objectives behind HS1 was to stimulate regeneration in inner London, the Thames Gateway and Kent Thameside. The role of LCR has been a crucial one. It leads the responsibility for the multi-billion-pound regeneration of land around HS1 stations, in partnership with developers and in close co-ordination with Government agencies, local authorities and communities.
A report by Colin Buchanan and Volterra commissioned by LCR and first published in 2009, The Economic Impact of High Speed 1, estimated that HS1 will deliver nearly £20bn (£17.6bn) in economic benefits and long term growth against a total cost of £7.3bn. Click here to view the report.
In September 2013, LCR took over staff and a number of properties held and managed by the BRB (Residuary) Ltd (BRBR) prior to it being wound up. BRBR was created in 2001 to manage the majority of the remaining properties, rights and liabilities of the British Railways Board.
In June 2014, the Department for Transport transferred its 40% stake in Eurostar (held through LCR) to Her Majesty’s Treasury. In January 2016, LCR completed the sale of its 36.5% interest in the King's Cross Central Limited Partnership to AustralianSuper for £371 million.
London & Continental Railways Limited, 4th floor, One Kemble Street, London WC2B 4AN Tel: +44 (0) 20 7391 4300 Fax: +44 (0) 20 7391 4401
Registered in England and Wales, company number 02966054 at the above address.