A heritage railway line is running a community share offer in a bid to set up a train operating co-operative.
Vintage Trains, a steam rail operator based in Tyseley, West Midlands, needs to raise £800,000 in shares and donations by 31 May and has already over £600,000.
“This puts us well on target to surpass our minimum goal before our deadline, enabling us to complete our licence application and hopefully begin operations sooner,” it says.
“However, we are not there yet and we must not become complacent or rest on our laurels. We still need to raise a further £200,000 by 31 May, followed by a significantly larger amount to complete the overhaul of our coaches in order to deliver a better experience for you, the passenger.”
Vintage Trains has a fleet of steam locomotives which it runs on main line routes throughout the UK, including tourist hotspots such as York, Oxford, Stratford-upon-Avon and the Cotswolds.
Adrian Shooter, former chair of Chiltern Railways, will be the chair of the Vintage Trains operating company.
He said: “The railways – and the steam engine in particular – were key to Britain’s success on the world stage. In our increasingly technological age, it’s easy to lose touch with our industrial past, which is why Vintage Trains is helping to preserve the golden age of steam, and make it even more accessible to future generations and tourists alike.
“This unique opportunity to buy shares in a steam train operating company, will enable anyone to own a piece of history, whilst helping us to train young engineers and continue the investment in our fleet of locomotives and carriages.”
Michael Whitehouse, chair of Vintage Trains Charitable Trust and Vintage Trains Community Benefit Society, said: “This offer is for everyone who believes there is magic in the sight, sound and smell of a steam locomotive pulling out of a station or hurtling across the countryside and for everyone who wants to experience the thrill. Together, we will create a new golden age, for new generations.
“We’re really proud of our steam heritage, and you’re going to help make sure that the skills of the steam age, which were invented in Britain and exported to change the world, live on for generations to come.”
The organisers say the new co-operative will create up to 11 full-time roles and will be promoting traditional engineering expertise before they disappear forever so that future generations can enjoy this experience.
Community shares start from £500, giving members voting rights, travel benefits on the company’s services and, after six years, the opportunity to receive interest payments on their shares and to withdraw their share capital.
The team is offering to split the payments for shares into five monthly instalments. It is also accepting donations of any amount; a donation of £100 secures entry for a prize draw to ride on the footplate of its Shakespeare Express train.
