On 22 Feb, 15:54, Mizter T wrote:
But by the looks of things sooner or later Eurostar isn't going to be
the owner of and hence be in charge of St Pancras station. It does of
course depend on how LCR is split up - will St Pancras be vested in
the owner of HS1/CTRL, or with Eurostar UK Ltd (EUKL)?

St Pancras is managed by Network Rail:
http://www.networkrail.co.uk/aspx/4394.aspx

....and will be vested in the owner of HS1:
http://business.timesonline.co.uk/to...cle2910648.ece

There are arguments both ways - the train operator (EUKL) being in
charge makes some sense, with regards to the fact that they are the
ones who are using it every day, unless of course there are other new
operators on the scene when having an impartial station owner starts
to make a lot more sense.

Except that there are three (soon four) train operators in St Pancras,
with EUKL running the fewest services. Indeed, the fact that LCR was
allowed to spec the station in the first place probably explains why
the signing and walking routes for domestic rail are currently so
****poor...

Indeed how LCR is broken up could be taken as an indicator as to how
likely TPTB consider a new international operator is to come on to the
scene. Likewise, depending on how LCR is broken up, it could provide
the necessary incentive for a new operator, or indeed provide enough
of an obstacle so as to prevent a new operator considering it
worthwhile.

Will be interesting to see. Given the lack of cheap multibillion loans
for private equity buyouts (which is how the likes of Macquarie have
profited from similar previous acquisitions), I'd not be at all
surprisied to see Network Rail emerging as the successful bidder for
HS1.

I think the argument for vesting the stations in the ownership of the
HS1/CTRL company is stronger, and of course a lot less messy, than the
counter arrangement. EUKL presence at St Pancras, along with any
potential future operators, would thus be like an airline at an
airport terminal.

....or a TOC at a major station.

All that said, it seems likely that DB is keen on working with
Eurostar as opposed to running competing services, so much of this
talk is probably just hypothetical.

Angels, pins, etc.

--
John Band
john at johnband dot org
www.johnband.org