Tyseley toC ‘nearly’ at CritiCal £800K marK

Vintage Trains is edging closer to the minimum £800,000 required for its Community Benefit Scheme that is helping to fund the establishment of an in‑house train operating company. The newly established VT Ltd topped the £700,000 mark in March, three months after the launch of the share scheme, and now says that it is “nearly” there, ahead of the May 31 deadline. Chairman of the Vintage Trains charitable trust Michael Whitehouse told Steam Railway on May 15: “Even if we exceed the minimum by May 31, there will still be the opportunity to join the Founders Club up to the limits set out in the share offer… On the basis that we reach the minimum, the offer will be extended until the end of the year, pursuant to Financial Conduct Authority rules.” The Founders Club includes exclusive benefits, such as booking opportunities for its first double‑ headed ‘Castle’ runs. He added that it was still the hope to operate the second half of the traditional regular ‘Shakespeare Express’ itinerary this year. “The safety certificate is being discussed with the ORR, with nothing substantial outstanding. Once that is agreed, we move to the commercial licence application for which all items have been submitted already,” he said. “The Office of Rail and Road does things in a set order, but they are happy with insurance and a ‘fit and proper’ board. The track access contract is agreed and waiting.” Tyseley has also held discussions about selling land that it owns at Stratford‑upon‑Avon – originally acquired for a museum and servicing outpost – which would bolster its £3 million TOC scheme, but Mr Whitehouse said: “No sale has yet been agreed”. He added: “However, we fully intend to have one [a presence in Stratford] in some way related to the ‘Shakespeare Express’ and have started discussions about participating in the station itself. It’s early days but there will be more news on integration between franchise, community and heritage trains in the West Midlands rail region in the future.”