Case Study: Network Rail achieves £1.5 billion in rail upgrade funding with PA Consulting

Driving investment in rail upgrades with innovative revenue generation

Network Rail turned to PA Consulting to help raise £1.8 billion to fund major rail infrastructure upgrades without adding extra cost burden to passengers and taxpayers. The challenge was to prepare a large-scale sale of its non-core Commercial Estate, while managing the complexity and risk of separating a business unit with more than 5,000 assets and 100-plus employees.

PA Consulting supported Network Rail with project management, business change, business case approvals, sales readiness, and the full separation of the Commercial Estate into a standalone operation. The work helped complete the sale in just 15 months, deliver nearly £1.5 billion in proceeds—£300 million above forecast—and ensure continued safe railway access throughout the transition.

Network Rail