The freehold of West Somerset Railway, one of Somerset's major tourist attractions, could be sold after a decision by the county council which owns the land. Councillor David Huxtable, Cabinet Member for Resources, has decided to dispose of the freehold – subject to necessary consents and approval by the Secretary of State.
The move is not unexpected as it is in line with the council's policy of reducing its property portfolio to save money and reduce liabilities. However, as the heritage railway line is of economic and social importance to the county, a sale will only go ahead if certain criteria are met.
 |
| The West Somerset Railway is a top regional attraction |
It is clear that there are two rival bidders, West Somerset Railway plc (WSR), a not-for-profit company which operates the railway, and the West Somerset Railway Association (WSRA), a charity which gives: "moral, financial and voluntary support" to the railway.
The operating company has a lease which runs until 2087, and had been negotiating with the council to buy the freehold since 2011.
The WSRA threw its hat into the ring last year, arguing it would be risky for the WSR to own the freehold, as if it went into liquidation the land might have to be sold off to pay creditors and no longer be available for a railway. The WSRA said it offered a risk-free option and the WSR would continue as the operator.
But there are issues surrounding the sale. A Light Railway Order to operate the railway must be in place at all times to avoid possible closure. At the moment the Order names the county council or West Somerset Railway plc. If the land was sold to a third party other than the current operating company the line would be closed until a new operating licence naming the new owner was obtained.
A WSR statement said: "As the current operator of the railway WSR is already holder of the statutory operating rights and a transfer to the plc would avoid this problem." The WSRA declined to comment.
Mr Huxtable said: "We've always said the council isn't in the railways business and it makes sense to consider selling the West Somerset Railway to a dedicated group who can completely focus on maintaining and improving the line.
"I've received a large number of letters overwhelmingly backing my decision today and in support of the West Somerset Railway Association proposals for the freehold. This isn't a decision aimed at making money, it's to make sure this valuable asset is preserved."
The council will meet any interested parties to ensure they meet the criteria for a sale and mitigate any risks.
West Somerset Railway
Take in the experience of riding on the West Somerset Railway during your next holiday break in the Somerset and North Devon area.
Linnets at Fitzhead close to Wivelscombe is a great place to spend a relaxing holiday break, complete with swimming pool and summer house. There is wheelchair access too.
Check out the property on the link below:
Linnets at Fitzhead
No comments:
Post a Comment