A new development company, called Platform4, is being created, by rolling together two existing bodies: London and Continental Railways and Network Rail’s Property Development Team.
Both currently have responsibility for managing disused railway land, but the Department for Transport said that this “fragmented approach” had led to “inefficiencies, duplicated efforts and missed opportunities”.
Transport Secretary Heidi Alexander said the new developments would support jobs and drive growth as well as providing much needed homes.
“It’s exciting to picture the thousands of families who will live in these future homes, the vibrant neighbourhoods springing up, and the new businesses that will launch thanks to these developments,” she said.
Bek Seeley, the chair of London and Continental Railways, has been appointed as chair of Platform4.