Edinburgh Waverley station outstrips national Network Rail station performance
Network Rail Property has achieved its highest ever quarter of retail sales (Q3 covering October to December 2024) revealing a total sales* uplift of +7% and +7.7% like-for-like (LfL) sales boost across its portfolio of 19 managed stations in Great Britain.
An increase in like-for-like (LfL) retail sales* of +10.5% at Edinburgh Waverley station, makes it Network Rail’s best performing station outside of London and also taking the top spot for the Scottish stations in terms of LfL retail sales growth.
Set against the wider retail market, the British Retail Consortium (BRC) tracked a +0.3% increase of LfL sales for the same quarter. Sustained quarterly sales growth at Edingburgh Waverley station underlines the resilience of retail performance at the station and creating an exceptional station offer which is a key part of Network Rail’s strategy to improve the passenger experience.
During Q3 2024, Edinburgh Waverley station saw the arrival of a new BrewDog offering, as well as a refreshed M&S and Burger King. The station now has a retail occupancy rate of 100%, meaning all 15 retail units are trading.
During Q3 2024, Glasgow Central also saw significant investment by retailers into stations stores, with recently opened Greggs and Holland & Barrett.
Total retail sales in Q3 reached £240.5m, representing an increase of over £16m compared to the previous year. Additionally, retail sales overtook the previous quarter, jumping by over +£7m. Network Rail’s total retail sales for calendar year 2024 surpassed £900m and for the first three quarters of this financial year, reached £701m.
For the third quarter in a row, London Waterloo was the best performing destination in terms of total sales growth for Q3. Total sales increased by +24.2% at London Waterloo over the last quarter, with Liverpool Lime Street also sitting in the top five stations after experiencing +11.7% growth.
In Q3, all five Network Rail regions experienced positive LFL sales performance. Eastern and North West and Central saw the largest regional uptick, with sales increasing by 8% compared to same period last year. In terms of total sales, North West and Central saw the biggest increase at +11% on 2023 levels.
Diversifying and transforming the retail experience for customers continues to be a priority for Network Rail Property. Carefully curating stations for brand success and continued sales growth demonstrates the strength of Network Rail’s retail strategy.
Hamish Kiernan, Commercial Director, Property at Network Rail, comments: “Our retail offering at Edinburgh Waverley station continues to go from strength to strength and our Q3 sales figures are the highest ever, demonstrating the appeal of our offer. Attracting and retaining brands such as Brewdog and M&S who invest and see the value in our destinations are vital to our continued success in Scotland and giving our customers the best possible station experience.”
*Retail sales covers retail, F&B and grocery brand sales.
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