History
The origins of Grand Central can be traced back to the privatisation of British Rail when bids were lodged for the Midland Mainline and Regional Railways North East franchises by Ian Yeowart and a consortium of ex British Rail managers under the Grand Central name. The company was dissolved in March 1998.
In April 2000 a new company was formed by Ian Yeowart, also named Grand Central Railway Company Limited to pursue open access opportunities.
In 2003 Grand Central lodged an application with the Office of Rail Regulation to operate a two-hourly open access service from Newcastle via the Caldervale Line and Manchester Victoria to Bolton using ex Virgin CrossCountry High Speed Trains. The application was rejected in June 2004.
Coach operator Fraser Eagle Group purchased a 79% shareholding in Grand Central in 2004.
In February 2005 Grand Central lodged an application with the Office of Rail Regulation to operate four daily services from Sunderland to London King's Cross and four daily services from Bradford Interchange to London King's Cross using Class 67 locomotives hauling five Mark 3 carriages and a Driving Van Trailer. In March 2006 the Office of Rail Regulation granted Grand Central access rights for three daily Sunderland to London King's Cross services, but only with 125 mph capable rolling stock, ruling out the Class 67 option. After failing at an Office of Rail Regulation hearing to have the process reversed, GNER sought a judicial review of the decision to grant Grand Central access rights but was rejected by the High Court in July 2006.
Fraser Eagle sold their 79% shareholding in Grand Central in March 2007 to two former managers of Prism Rail, backed by a private equity group.
Operations were due to commence in May 2007, however delays in procuring and then refurbishing rolling stock delayed this.
Operations commenced on 18 December 2007 between Sunderland and London King's Cross. While awaiting the delivery of all of the rolling stock, initially only one Sunderland - Kings Cross and one York - Kings Cross service operated in each direction. The full timetable was introduced in March 2008. Mechanical problems with the High Speed Trains led to services being regularly cancelled, resulting in a reduced service being operated from May until July 2008.
In March 2008 Grand Central lodged an application with the Office of Rail Regulation to operate three daily services from Bradford Interchange to London King's Cross. In January 2009 Grand Central were granted access rights for three daily Bradford Interchange to London King's Cross services until December 2014 and a fourth Sunderland to London King's Cross service until May 2012. In August 2009 the fourth daily Sunderland - London King's Cross service commenced.
The Office of Rail Regulation announced in February 2010 that all access rights have now been extended until December 2016.
In May 2010 Grand Central services between Bradford Interchange and London King's Cross commenced. It was hoped that the service would start in December 2009, but difficulties in securing rolling stock caused delay.
In November 2011 Grand Central was sold to Arriva At the time of the takeover Grand Central had 123 employees, a turnover of £18.9m and debts of £44m.
From December 2011 Bradford services made an additional stop at Mirfield.
Grand Central has never been profitable and by December 2011 had accrued losses of £40 million.
Read more about this topic: Grand Central Railway
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