The Railway Industry Association (RIA) has published a new report calling for a fresh approach to investing in railway stations to unlock opportunities for transport, housing, and economic growth. The paper, titled ‘Station Investment Zones: A new model for investment in transport, housing and growth’, identifies the 2,500 stations in mainland Great Britain as an untapped resource that could help regenerate local communities while boosting housing supply.

Developed by a cross-industry group convened by RIA, the report proposes the creation of Station Investment Zones, covering roughly an 800-metre radius—or around a ten-minute walk—around stations. Within these zones, planning and tax incentives would align to support new housing, commercial development, and improved transport links. The report also outlines an innovative investment model enabling both public and private sector co-investment in local improvements such as integrated transport hubs and community amenities. Drawing on the Mutual Investment Model already used in Wales, the framework would allow the public sector to share in potential proceeds, creating a scalable, public-spending-neutral approach that can work across the UK.

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 said:
“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.”

Campaign for Better Transport Chief Executive Ben Plowden 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.”

Community Rail Chief Executive Jools Townsend 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.”

Image: Railway Industry Association