Severn Valley Railway in £3m shares sale bid

Railway chiefs want to raise the money to build the centre, station gateway and spectator gallery at Bridgnorth railway station and to create a heritage engineering and building training academy.

Further ideas include restoring the Hagley Hall locomotive – which has not worked for more than 23 years – and carrying out further maintenance to the line and its infrastructure to preserve it for decades to come.

From October 1, three million shares priced at £1 each will be on offer, giving enthusiasts the chance to own a part of the railway. A launch will be held on October 13 and 14 at a members' and shareholders' weekend.

It comes as bosses at the railway celebrate the line's 150th anniversary in 2012, while 2015 will be the 50th anniversary of the launch of a campaign to bring the line back into use.

A spokesman for the SVR said: "To mark the 150th anniversary of the line, Severn Valley Railway is launching a share issue in October which will give anyone with a keen interest in the railway the opportunity to own part of a growing national treasure.

"Up to three million shares will be available at a price of £1 a share with the aim of providing investment in visitor amenities, rolling stock and infrastructure, including the creation of a heritage engineering and building training academy for young people.

"The next major milestone in the history of the railway will be our golden jubilee in 2015 marking 50 years since the start of the campaign to re-open the line as a heritage railway.

"Feedback from shareholders, supporters and volunteers suggests that the time is right for the board to embark on a major investment programme to prepare the railway for the next 50 years."

The line closed to through passenger and freight traffic in 1963 as part of Dr Beeching's cuts.

By Peter Kitchen