THE company behind the proposed rail link between Tavistock and Bere Alston this week announced a significant shake-up of its own business structure.

The newly formed Kilbridge Holdings has undertaken a management buy-out of four rail-led projects from the Kilmartin Group — the former parent company of the Kilbride Community Rail group. The group is behind the £18.5 million bid to reconnect the Tavistock to Bere Alston rail link, and build 750 houses and infrastructure at Monksmead.

Kilbride, a specialist rail and infrastructure developer, has agreed to buy the Tavistock to Bere Alston passenger line, the Four Ashes Strategic Rail Freight Interchange at Stretton in the East Midlands, the Keypoint Rail Terminal, Swindon for car manufacturer Honda and The Inverurie Business Park in Scotland.

Colin Banyard, chairman and majority shareholder of Kilbride, said: 'This acquisition enables us to move ahead with some very exciting development opportunities.

'Kilbride has a track record of identifying and delivering projects that unlock considerable value from rail-related sites. We believe our experience and project pipeline represents a compelling platform from which to continue Kilbride's growth — the prospects for the future look very strong.

'We have enjoyed a productive working relationship with Kilmartin, but we believe strongly that our project pipeline and, within that, the interests of our stakeholders, are best served through progressing our schemes on an independent basis.'

Peter Frost, managing director of the new company Kilbride Holdings, told the Times: 'The new team are delighted to have carried out this buy-out.

'We have enjoyed a productive relationship with Kilmartin and the buy-out gives the projects the best chance of success in the future.

'The Bere Alston to Tavistock rail line and associated developments in Tavistock is one of our key projects and we will now concentrate on finishing any submissions needed for the Local Plan.'

The news was welcomed by Richard Burningham, manager of the Devon and Cornwall Rail Partnership, which works to promote travel on rural branch lines and seek improvements on community rail.

He said 'in principle' the partnership supported Kilbride's bid as far as the proposed Tavistock-Bere Alston was concerned.

'It strikes me as no change. Kilbride's management team are still fully committed to the Tavistock-Bere Alston railway line, so we will just wait for future developments,' said Mr Burningham.

However the management buy-out brought little comfort to those opposed to Kilbride's plans.

West Devon and town councillor Ted Sherrell said he was not against the reinstatement of the rail link per se, but was opposed to the scale of the proposed development at Monksmead.

He said: 'None of these changes alters the fact that Tavistock, whose infrastructure is already overburdened and which has precious few employment opportunities, will have foisted upon it 750 houses in the Callington Road area.

'Previous experience regarding major developments in the town would suggest a majority of the houses will be bought by people outside of the area.

'The laying of 5.5 miles of railway track to Bere Alston is exceedingly poor consolation.'