HS1 owners mull over sale of high-speed rail line linking London and the Channel Tunnel

 
Rebecca Smith
St Pancras is one of the stations owned by the Canadian firms on the HS1 route
St Pancras is one of the stations owned by the Canadian firms on the HS1 route (Source: Getty)

The owners of HS1, the high-speed railway connecting London to the Channel Tunnel, are considering a possible sale after receiving multiple approaches.

Borealis Infrastructure and Ontario Teachers' Pension Plan are exploring strategic options, they confirmed today, after "a number of investment inquiries".

They said in a statement that a financial adviser will be appointed in due course, though also noted that the review may indeed conclude with no action at all.

Read more: Mapped: This is the route HS2 will take north of Birmingham

In 2010, the Canadian firms jointly acquired the 30-year concession from the transport secretary at the time Philip Hammond, for £2.1bn, to operate and manage the HS1 network. It comprises the 109km high-speed rail line joining London and the Channel Tunnel, on which both the Eurostar and high-speed Southern services operate, as well as four international stations along the route: St Pancras, Stratford, Ebbsfleet and Ashford.

It's the only high-speed railway in the UK at present, with parliament set to ratify plans for the first phase of HS2 early next year.

Read more: Get your passport: London City Airport is expanding in a £344m deal

Borealis and Teachers also own stakes in London City airport, as part of the consortium that bid in the £2bn takeover in February.

The airport was courted by up to five different groups of bidders since it was put on the market by Global Infrastructure Partners (GIP) in August last year.

Related articles