People & Business: Family property

THE PROPOSED redevelopment of Waverley railway station, a 23 acre- site slap bang in the middle of Edinburgh, will probably not start until 2005 - but it has already thrown up an interesting family tale.

Railtrack wants to raise the roof of the Victorian station - literally - and build a shopping complex above it.

I hear that Delancey Estates, the development company backed by George Soros and run by James Ritblat, is on the informal shortlist for the redevelopment.

James is son of John Ritblat - whose own British Land tried and failed to get on the same shortlist for Waverley.

Another of John Ritblat's sons, Nick Ritblat, is on the Board at British Land. Jamie tried a spell at the family firm but felt the need to strike out on his own. Railtrack obviously think he was right to do so.