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NFC loses prime site
Page 8
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• NFC and British Rail plan to appeal against a High Court ruling which could cost them millions of pounds.
Justice Hoffmann has ruled in the High Court that Saint Bartholomew's Hospital and the Church Commissioners may buy back a prime site near London's King Cross station from NFC and British Rail at 1850 prices.
The 20ha (50-acre) site — which today is earmarked for major development — was compulsorily purchased more than 100 years ago under the terms of the Great Northern Railway Company Act of 1846 to make way for new railway lines out of London.
However, as the land is no longer used for railway purposes, the original owners have the legal right to buy it back, says Hoffman.
Saint Bartholomew's Hospital and the Church Commissioners have been awarded costs, estimated at around 2200,000, against British Rail and National Carriers (now NFC), but subject to a stay of execution pending a probable appeal.