Network Rail appoints consultant to run multibillion-pound station redevelopment programme.

Network Rail has appointed accountant Ernst & Young to oversee its multibillion-pound station redevelopment programme.

The government-backed rail group chose E&Y over rival firms KPMG and Pricewaterhouse Coopers on Friday.

E&Y will run the massive project of overhauling Victoria and Euston stations. Both projects have already attracted the interest of A-list developers such as British Land, Stanhope and Chelsfield Partners.

Network Rail and E&Y are likely to put out tenders for redevelopment at Waterloo later this year.

Under the arrangement, E&Y will take responsibility for attracting private investment in the redevelopment programme.