bending backwards 
anyway, as far as payments are concerned." 
Archana Chaudhary

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Business
Victoria Station's pounds 250m facelift
HEATHER TOMLINSON

03/25/2001
The Independent - London
FOREIGN
1
(Copyright 2001 Independent Newspapers (UK) Limited)

Railtrack is planning a giant office and retail development at Victoria 
Station, London, estimated to be worth at least pounds 250m. 
The rail group is one of four companies planning major property developments 
in Victoria that could transform the area and compete with a similar projects 
at Paddington, west London.
The developments, also proposed by Grosvenor Estates, Howard Ronson 
Organisation (HRO) and Land Securities, total 1.4m square feet, larger than 
the Canary Wharf tower in London's Docklands. 
Railtrack is understood to be working on a masterplan for the site, which 
would see the development ofup to 500,0000 square feet of space built above 
and around the station. 
Railtrack has one of the largest property development programmes in the UK. 
Valued at pounds 2bn, it dwarfs the development programme of Land Securities, 
the UK's largest quoted property company. 
Run by John O'Brien, Railtrack's property department is also planning a 
42-storey tower at Paddington Station and a huge mixed- use development with 
Pillar Property at Cricklewood, north London. 
At Victoria, Railtrack will launch a survey with the three other developers 
to gauge demand from potential tenants. 
But the developers could have an early boost. Enron, the US energy giant that 
pulled out of a deal to move to Canary Wharf last year, is now understood to 
be keen to expand its offices in Victoria.