The Severn Valley Railway has had its plans to convert its company into a charitable community benefit society.

The Financial Conduct Authority have approved the plans, in what is seen as a key step in the One Railway project.

The organisation will be named Severn Valley Railway Society Limited.

The railway says that the One Railway project will create a more resilient structure that is better suited to operating in todays environment.

The project is set for completion on the 31st May 2026

“We are absolutely delighted, and hugely relieved, that the FCA has approved our application. This is a significant milestone for the One Railway project and follows a great deal of detailed work to meet the regulator’s requirements.

“The approval allows us to move forward with confidence. The name Severn Valley Railway Society Limited is clear, appropriate and a fitting nod to our origins.”

“This has always been a complex project, and as ever, the detail has been critical. Now that we have regulatory approval, our focus turns to delivering the final stages of the transition. There is still important work to be done, but we are confident in our ability to achieve it.

“This is a moment of real progress for everyone connected with the railway; our members, volunteers, staff and supporters. It represents another important step in ensuring the Severn Valley Railway is fit for the future, while remaining true to its heritage.”

Charlie Wright, director of Severn Valley Railway (Holdings) Plc and leader of the One Railway project