Network Rail isn’t just about trains. As the owner and infrastructure manager of most of the railway network in Great Britain, it also has a huge retail estate on its stations and it has just announced that retail sales reached over £800 million in the past 12 months across its portfolio of 19 managed stations.

Over 600,000 sq ft of prime retail space is managed by Network Rail within major city centre locations, with footfall climbing above 700 million visits per year. In the past 12 months 53 new units have opened, attracting 15 new brands to the portfolio alongside 18 pop-ups to test the retail travel market.

Network rail is landlord to a variety of stores from food & beverage outlets to fashion and beauty.

London Liverpool Street, which turned 150 this year, is its busiest station by passenger numbers and also its highest grossing station – accounting for over £92 million in total annual sales over the last year. Some 30 retailers make up 73,000 sq ft of retail space at London Liverpool Street, with brands including Oliver Bonas, Lush and Boots.

Other stations include London Victoria with Accessorize, Boots, Lush, Neal’s Yard Remedies, Oliver Bonas and Superdrug; and London King’s Cross with Fatface, Kielh’s, Pandora, Oliver Bonas, Rituals and Boots.

Throughout the last year, Network Rail has taken proactive steps to continue changing the retail mix. Network Rail’s retail strategy has focused on developing the offering across its destination stations by introducing new brands and experiences for customers including the Arches, a new cultural venue at London Bridge.

At London Waterloo, the opening of The Victory pub helped boost sales per sq ft to £2,507 (annual average) and demonstrated how hospitality brands are increasingly investing in major transport hubs to capitalise on rebounding footfall.

Monsoon also opened its first travel boutique at the station last year. Owner Adena Brands said at the time that the location “will serve as an ideal testing ground for Monsoon’s travel boutique concept, offering seasonal collections as well as travel essentials drawn from its women’s clothing and accessories ranges”.

As well as core travel accessories, the store includes an expanded summer beach assortment, casual dresses “for those traveling on weekend trips and to festivals”, and a selection of occasionwear and accessories for more formal events and destinations.

Hamish Kiernan, Commercial Director, Property at Network Rail, said: “Our figures for the last year are highly encouraging and reflect how providing customers with an attractive mix of retail and F&B is a priority for Network Rail. We’ve welcomed new major brands, exciting new pop-up stores and refurbishments which signifies brands’ appetite for continued investment across our portfolio. As we pivot towards a more curated offering, Network Rail stations are developing into retail and leisure destinations in their own right.”

The operator is bouncing back from a hugely bruising period in which the pandemic and its aftermath saw minimal visitor traffic moving through railway stations, a work-from-home culture that further dented traffic post-Covid, and low tourist arrivals.

It had all been going so well earlier. In the weeks before the first lockdown began, we reported buoyant quarterly sales for Network Rail as stations like the rebuilt London Bridge enjoyed the presence of retailers such as Whistles, Accessorize, Boots, Cath Kidston, Oliver Bonas, Pandora, Ted Baker, TM Lewin, Rituals, and Kiehl’s.

At that point, London Bridge showed the highest total sales growth in the UK, with a rise of 48.2%.

But only weeks later as lockdown measures were introduced, Network Rail announced it was cancelling rents for its tenants, a reflection of just how tough a scenario was playing out for retail.

The new figures this week show that traveller numbers may not have fully recovered to where they would have been had the pandemic not happened, but they’re definitely on their way.