Cambridgeshire County Council Approves £23m Repayable Grant for Waterbeach Train Station Relocation

Cambridgeshire County Council has approved a “repayable grant” to assist in financing the relocation of a train station within the county. This move is part of the development of a new town situated north of Waterbeach, Cambridgeshire, which necessitates the repositioning of Waterbeach train station. Homes England is set to provide £23 million to cover a portion of the relocation costs, supplemented by a £20 million pledge from the Greater Cambridge Partnership, the entity overseeing the project. The funding arrangements received approval from councillors on Cambridgeshire County Council’s Strategy, Resources and Performance Committee during a meeting held on Thursday. The construction of a new railway station was a prerequisite set by South Cambridgeshire District Council for its approval of plans to build 4,500 homes as part of the Waterbeach New Town initiative. The project has encountered delays, and its costs have escalated. In February, councillors were informed that approximately £37 million would be required to complete the undertaking. This week, the committee learned that the estimated figure had risen to £43 million. The sum that developers were expected to contribute towards the station’s relocation will now be provided to the project by Homes England as a “repayable grant.” This type of loan, as explained at the committee meeting, will not be recorded on the council’s debt list in the same manner as a conventional loan. Developers will repay this amount through Section 106 funding. The Greater Cambridge Partnership, comprising local councils, business leaders, and Cambridge University, is responsible for overseeing the project. This group was established to deliver funding aimed at supporting regional growth. The executive board of the Greater Cambridge Partnership is scheduled to convene on 7 November to formally approve the plan and finalize the budget.