12.1 The most recent cost estimates for the restoration of a mile of line ranges between £1/2 million and £1 million which gives an immediate istimated cost of £3.25 million to £6.5 million to restore the line to full working order. These costs are based on a volunteer lead effort.
12.2 The line will require the creation of a Heritage Rail Centre and costs of this are still to be completed pending clarification of the specification for the Heritage Rail Centre. Based on the recent costs for the GCR Shed appeal an estimate of £5 million has been put on our budget but this is approximate and requires a specfication to finalise the costs.
12.3 The line will require the restoration / creation of a 5 halts / stations on the 6.5 mile section including Blaenau Ffestiniog itself. The remaining halts / stations will be:
• Llan Festiniog
• Maentwrog Road
• Trawsfynydd Lake Halt
Based on the costs of the new build Corwen Station of £1 million for the station means that with 5 more stations required brings costs up by another £5 million along with a contribution to Blaenau Ffestiniog estimated to be another £1 million bringing total station costs to £6 million.
|Legal Fees & Initial work||£62,500|
|Track Clearance Work||£100,000|
|6.5 Miles of Track||£3.25 – £6.5 Million|
|4 new Stations / Halts||£4 million|
|Blaenau Ffestiniog||£1 million|
|Maentwrog Road Heritage Centre||£5 million|
|Total Funding needed (Estimated @ 2019)||£14.4 – £17.7 Million|
12.4 This will necessitate the fundraising of £1.425 to £1.75 million a year on average over 10 hears in order to achieve these targets, in reality it is likely that the fundraising would be carried out over a much longer period of time.
12.5 Rather than try to raise all the money in one go it is intended to split the findraising into smaller chunks with a suggested division on page 21. This will make raising the funds easier to explain as well as show a more visible and tangible progress as time goes by for the members and grant awarding bodies.
12.6 The projects are broken down as follows:
1- Legal Fees / planning costs £62,500.00
2- Negotiations with Network Rail (Costs included in Phase 1)
3- Line Clearance / Survey Costs £100,000
4- Line mile 1: £500,000
5- Line Mile 2: £500,000
6- Line Mile 3: £500,000
7- Line Mile 4: £500,000
8- Line Mile 5: £500,000
9- Line Mile 6: £500,000
10- Line Mile 6.5: £250,000
11- Heritage Rail Centre £5,000,000
12- Tan – y – Manod £1,000,000
14- Llan Ffestiniog £1,000,000
15- Maentwrog Road £1,000,000
16- Trawsfynydd Lake Halt £1,000,000
17- Blaenau Ffestiniog £1,000,000.00