Severn Valley Railway launches £2.5 million share offer

The shares are being offered at £1 each for a period of 12 months and money would be spent on Bridgnorth Railway Station.

The station, built in 1862, will be restored through the money raised. It is the biggest restoration project the SVR will have undergone since it was formed 51 years ago.

None of the shares, which went on sale yesterday, pay dividends but travel benefits will be offered to people who buy them depending on how many they have.

Nick Ralls, Severn Valley Railway general manager, said: "We are delighted that after many years' planning the Bridgnorth station development, this share offer launch puts us within reach of these exciting developments.

"The £2.5m target is ambitious but we understand appetite for the Bridgnorth development is extremely strong among existing supporters and we expect this offer to reach new audiences too.

"Whether you are looking to buy many thousands or a few hundred shares, rest assured you are investing in an enormously important piece of railway preservation as well as helping to grow the local tourism economy as improved facilities will help us attract new audiences to start their journeys in Bridgnorth for the first time."

A similar scheme in 2012 raised more than £2m which resulted in extra land, improved carriages and an updated track.

The Bridgnorth development programme will set out work in three key phases, the first two of which will be funded through share offer proceeds, starting with the construction of a new refreshment room and toilet building, in the style of a typical Great Western Railway building c1900.

In addition, there will be alterations to the existing Grade-II listed buildings to increase space within the popular track-side pub, The Railwayman's Arms, as well as the relocation of the existing shop to allow for the reinstatement of the original booking hall and waiting room.

Phase Two plans also include improvements to car parking and road access. Phase Three will be a new on-site accommodation building for SVR volunteers.

David Postle, curator of the Kidderminster Railway Museum and lead of thedevelopment project team, said: "Now, after three years, planning is secured, preparatory works are already under way and we're ready to deliver our vision, giving Bridgnorth the facilities for the future all the while making sure the station takes its rightful place at the forefront of railway preservation."

Major ground works are due to begin later this month with building due to start in 2017.

return to passenger service earlier this year.