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Hong Kong, based transport company MTR are looking to secure a contract to build a new UK residential property development on top of one of the UK’s oldest railway stations.

The company is planning to use this project to break into the European markets, to mirror the trains-and-property triumph it achieved on home soil.

Euston Station is not the only planned project as will try to copy and paste the business model in a small Swedish town.

MTR Corporation chairman Frederick Ma Si-hang advised the company was already involved in negotiations to build both commercial and residential property above railway stations in London and Stockholm.

If the project is given the go ahead it is rumored they will partner with UK developer Canary Wharf Group.

Sources said the Euston project would be spaced out over a massive 22 hectares, combinig property development with rail services.

Whichever project gets off the ground first be it Euston or Stockholm, it will be their flagship development in Europe.

“Some companies in London, Sweden and Australia are interested in our property and rail business model and approached us already,” Ma said during a visit to MTR Corp’s rail services in London last week.

“When evaluating these projects, we stick with our principles. We need to have good partners for a long-term partnership, and a reasonable return from investments.”

Hong Kong is the birthplace of property development combined with train stations, which has seen tremendous success over the years, but has seen a downturn in recent times.

Jeremy Long, chief executive of MTR’s European business, said negotiations with the London transport authority were under way on some projects.

“I will be surprised if [in] two years we haven’t committed to any rail and property projects by then,” Long said.

MTR Nordic chief executive Peter Viinapuu said:

“This project is the first of its kind in Sweden, which will set a model for the future.”

“Five years ago, when we mentioned the property development idea to the governments, there were a lot of suspicions. They said: ‘You can do it in Hong Kong, but we are in Sweden’,” Viinapuu said. “After some discussions and education, they are more open about it now.”

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