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first class service from martineau in railway acquisition 02/11/2009 Birmingham and London law firm Martineau is continuing to demonstrate its first class regional capability, acting for Moorlands and City Railways Ltd (MCR), in their acquisition of what is believed to be the UK's first private purchase of a multi-purpose commercial network.
In an innovative project, MCR has acquired twenty miles of disused railway line running from the mainline at Stoke-on-Trent to Cauldon Lowe quarries. The line will help take hundreds of vehicles off the road each year by transporting quarry products and cement to locations across the country.
In a move that will see passenger and freight trains return to the Moorlands after more than 40 years, the company is also in talks to extend the line across the region. MCR has an unconditional offer for the Leekbrook to Stoke-on-Trent line which will give them a 150-year lease from next March. Once completed, passengers will be able to catch trains from Leek, Cheddleton, Kingsley and Froghall Station to anywhere in Britain after changing at Stoke.
Significantly, MCR is also looking to extend the line via the existing Churnet Valley Heritage Line to Alton Towers, a move that would help transport huge numbers of visitors to the theme park every year and reduce traffic passing through rural villages.
Speaking about the acquisition, Amanda Hanmore, Partner at Martineau comments:
"We are delighted that as a result of Martineau's strong offering and vast experience across key focus area sectors, the firm was chosen to secure this acquisition. This is a significant development for the Staffordshire Moorlands; one that will help put the region firmly back on the map. When completed there will be 30 miles of track covering four different routes across the region, creating a host of commercial opportunities for local businesses and those wishing to invest in the area. It will provide a real boost to the rural economy and help promote sustainable transport, taking both freight and passengers off the road."
The deal, which was led by Martineau's Transport team, involved several teams across the firm, in a perfect representation of Martineau's holistic approach to the delivery of legal services.
For further information please contact Amanda Hanmore on
amanda.hanmore@martineau-uk.com |
