John Laing achieves Financial Close on Aylesbury Vale Parkway
John Laing Projects & Developments, a division of John Laing plc, today announces that it has reached financial close on Aylesbury Vale Parkway, a new railway station that will enable Chiltern Railways to provide a direct passenger service to London Marylebone.
The 20 year, £13m concession will be jointly funded by the Government under its Community Infrastructure Fund, Buckinghamshire County Council and John Laing, who will invest £4m of equity.
The station will be built three kilometres north-west of Aylesbury town station, next to the A41 and a major new planned housing development at Berryfields. The project includes upgrading signalling and railway track to take passenger trains, the building of a new park-and-ride scheme linking to Aylesbury town centre and parking for 500 cars.
It is expected that 250,000 passengers will use the station each year and that the local community will benefit from reduced congestion in Aylesbury town centre and quieter train traffic as the jointed track is replaced by continuously-welded rail.
Carillion has been appointed design and build contractor on phase one of the project, encompassing the track and signalling work and construction of a new platform. Work will commence in autumn 2007 with Aylesbury Vale Parkway expected to open in 2009, when the second phase including construction of the new station, park-and-ride and car-park is completed. John Laing Projects & Developments will project manage delivery of the station.
Buckinghamshire County Council's Cabinet Member for Transportation, Valerie Letheren, welcomed the news, "this is another important step on the way to providing travel choice to the residents of Aylesbury via Aylesbury Vale Parkway. It is good to see that work will start on the ground very soon and I'm sure that John Laing's experience in the rail industry will ensure the prompt delivery of this contract."
"Aylesbury Vale Parkway will be the third private sector railway station in the UK delivered by John Laing," said Andy Pearson, Director of Rail Infrastructure at John Laing. "This important new market allows operators to provide first class services to passengers from new or expanding population centres without exposure to financial risk. We expect further opportunities to emerge as the success of Warwick Parkway, Coleshill and, soon, Aylesbury Vale Parkway, is seen across the network."