THE Severn Valley Railway (SVR) has taken a step towards long-term stability with a new charitable structure.
The heritage railway, which runs through parts of Shropshire and Worcestershire, has officially become a Charitable Community Benefit Society (CCBS) and will now be known as the Severn Valley Railway Society Limited (SVRS).
The change follows approval from the Financial Conduct Authority and marks a key milestone in the railway's wider One Railway restructuring project.
Chris Walton, chairman of the Severn Valley Railway Society Limited, said: "This new structure places the railway on a firmer footing for the years ahead, while preserving the values and heritage that are so important to everyone connected with the SVR.
"We can now look ahead with optimism and ambition as we continue to strengthen and develop this remarkable railway for future generations."
Becoming a CCBS opens up new sources of grant funding and allows the SVR to benefit from Gift Aid, improving its long-term financial outlook.
Gus Dunster, chief executive officer of the Severn Valley Railway Society Limited, said: "This is an enormously important day for the Severn Valley Railway and the beginning of an exciting new chapter in our story.
"Becoming a CCBS opens important new opportunities through grant funding and Gift Aid, helping us to generate additional income that can be invested directly back into the railway, its infrastructure and its heritage assets."
The One Railway project aims to simplify the SVR’s organisational structure by merging its separate groups into a single, more efficient entity.
Charlie Wright, director of the Severn Valley Railway Society Limited and project lead, described the conversion as a 'historic achievement'.
He said: "The aim throughout has been to create an organisation that is better equipped to meet modern challenges while remaining true to the values and heritage that make the Severn Valley Railway so special."
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