The Severn Valley Railway (SVR) has announced that the Financial Conduct Authority (FCA) has approved its application to convert Severn Valley Railway (Holdings) Plc into a charitable community benefit society (CCBS), a key step in the organisation’s ambitious One Railway restructure.

The newly constituted organisation will be named Severn Valley Railway Society Limited, a title that reflects both clarity of purpose and the railway’s heritage.

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

“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.”

The approval follows strong backing from both members and shareholders in 2025 for the restructuring programme, which will see the amalgamation of Severn Valley Railway Company Limited with the Holdings company once the conversion is complete.

The One Railway project aims to create a more resilient, transparent and efficient structure, better suited to today’s operating and regulatory environment.

Charlie added: “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.”

The railway is currently targeting 31 May 2026 for completion of the conversion, subject to final key steps being in place. Further updates, including opportunities for stakeholders to ask questions, will be shared in the coming days.

SVR has said the announcement marks a major step forward for the SVR as it continues its journey to secure a sustainable future.

The news was announced ahead of the railway’s 2026 Spring Gala.