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18/02/2004
Flying Scotsman could leave Britain following sale decision
The Flying Scotsman, a symbol of British engineering and a world famous name in transport history, could leave the UK permanently following a decision to put the locomotive up for sale.
The Flying Scotsman plc said today that it has instructed property advisers GVA Grimley to dispose of the locomotive No 4472. The closing date for tenders is 2 April 2004.
A spokesperson for the company said that it had taken "the reluctant decision" to sell following delays in plans to establish a visitor's centre for the train at Edinburgh's Waverley Station.
Peter Butler, Chief Executive of Flying Scotsman plc, said: "Naturally we are disappointed at this development, but we have been unable to make sufficient progress with the proposed Flying Scotsman visitor centre at Edinburgh.
"This is the best way forward to ensure the survival of the engine on the main line, and to protect shareholder interest. This is not a forced sale, and we are confident the result will be in the interests of everyone involved with this magnificent example of British engineering."
The company said that the locomotive remained a "strong business proposition" and expects a great deal of interest internationally. The train is currently under contract to Venice Simplon-Orient-Express hauling excursion trains.
David Speight, partner with the plant and machinery valuation team at GVA Grimley, which is selling the train, said: "We expect there will be considerable interest in ensuring locomotive 4472 remains in the UK.
"It is likely, however, that a number of bids will be received from overseas parties."
Designed by Sir Nigel Gresley, the A3 pacific steam locomotive was manufactured in 1923 in Doncaster.
Bought by Alan Pegler from BR in 1963, Flying Scotsman was one of the first preserved locomotives to pull trains on the mainline. She has visited the US and toured Australia during the country's bicentennial celebrations in 1988 and 1989. During this visit she set a new world record for a non-stop run for steam by hauling a train for 422 miles from Parkes to Broken Hill in New South Wales.
The Flying Scotsman plc was formed in late 2001 with previous company Flying Scotsman Railways Ltd as a wholly-owned subsidiary.
(gmcg)
The Flying Scotsman plc said today that it has instructed property advisers GVA Grimley to dispose of the locomotive No 4472. The closing date for tenders is 2 April 2004.
A spokesperson for the company said that it had taken "the reluctant decision" to sell following delays in plans to establish a visitor's centre for the train at Edinburgh's Waverley Station.
Peter Butler, Chief Executive of Flying Scotsman plc, said: "Naturally we are disappointed at this development, but we have been unable to make sufficient progress with the proposed Flying Scotsman visitor centre at Edinburgh.
"This is the best way forward to ensure the survival of the engine on the main line, and to protect shareholder interest. This is not a forced sale, and we are confident the result will be in the interests of everyone involved with this magnificent example of British engineering."
The company said that the locomotive remained a "strong business proposition" and expects a great deal of interest internationally. The train is currently under contract to Venice Simplon-Orient-Express hauling excursion trains.
David Speight, partner with the plant and machinery valuation team at GVA Grimley, which is selling the train, said: "We expect there will be considerable interest in ensuring locomotive 4472 remains in the UK.
"It is likely, however, that a number of bids will be received from overseas parties."
Designed by Sir Nigel Gresley, the A3 pacific steam locomotive was manufactured in 1923 in Doncaster.
Bought by Alan Pegler from BR in 1963, Flying Scotsman was one of the first preserved locomotives to pull trains on the mainline. She has visited the US and toured Australia during the country's bicentennial celebrations in 1988 and 1989. During this visit she set a new world record for a non-stop run for steam by hauling a train for 422 miles from Parkes to Broken Hill in New South Wales.
The Flying Scotsman plc was formed in late 2001 with previous company Flying Scotsman Railways Ltd as a wholly-owned subsidiary.
(gmcg)
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