New station investment zones proposed by RIA to boost housing, transport, and economic growth across Great Britain

The Railway Industry Association (RIA) has published a report calling for a new model for investment in railway stations to boost transport, housing, and local economic growth. The report identifies the 2,500 stations in mainland Great Britain as an untapped resource that could be harnessed for community regeneration and to increase 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 was launched in Parliament on 21 October. The report sets out key recommendations for transforming stations into catalysts for economic and social development.

One recommendation is the creation of new Station Investment Zones. These zones would cover roughly an 800-metre radius, approximately a ten-minute walk, around stations. Planning and tax incentives within these zones would be aligned to support new housing, commercial development, and improved transport facilities.

The report also proposes an innovative investment model allowing both the private and public sectors to co-invest in a wide range of local improvements. This could include integrated transport hubs, increased community amenities, and other developments. The model draws on the Mutual Investment Model used in Wales, where the public sector can take a share of any proceeds from investment.

RIA suggests a scalable approach that could be applied across the UK, grouping stations as a portfolio to establish economies of scale. This would help attract private investment and reduce costs. Importantly, the proposal is public spending neutral, requiring no new government funding, but seeks to leverage all available revenue streams effectively.

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 added: “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.”

Ben Plowden, Chief Executive of the Campaign for Better Transport, 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.”

Jools Townsend, Chief Executive of Community Rail, added: “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.”

The report highlights the potential of station-focused investment to generate homes, jobs, and economic growth while improving transport infrastructure and enhancing community engagement across the UK.