76079 Bought By The NYMR

I am a bit confused about the sale of 76079. Yes, it has been sold and gone to the NYMR, but who has announced that the NYMR have bought it themselves?

 

76079 bought for NYMR

The price paid for 76079 would have paid for the bridge replacing.

76079 bought on HP,the bridge possibly paid for by a bank loan?

HP or bank loan,they both need repaying in installments,and neither are cheap.Let's hope no poterntial grants are lost as a result of-''well you've just bought that,so why do you need our money''.

The engine is being bought on an HP arrangement. As it is now owned by the railway the mileage payments that woukld have been incurred by its use will go to pay for its purchase instead and the railway will end up with an asset once purchase is complete. Until it is fully paid off the engine remains the property of the HP company and actually, the railway hasn't borrowed any money in the process, although it will have made a committment to maintain the payments and keep the engine in good order The potential saving in mileage payments is said to exceed the cost of the loan repayments if the priojected annual mileage can be achieved, with a positive benefit to cash flow. If the NYMR had hired this or another engine in to cover X thousand miles per year it would have had to make the mileage payments with nothing to show for it at the end, although admittedly that will now be balanced by a need to fund its next overhaul.

It isn't possible to fund either of the aims of the "Bridges & Wheels" appeal by this sort of arrangement and what this does demonstrate to potential grant awarding bodies is that the NYMR's management is trying to reduce the cost of operating the railway and improve cash flow where it can.

I am a bit confused about the sale of 76079. Yes, it has been sold and gone to the NYMR, but who has announced that the NYMR have bought it themselves?

It has been announced to the NYMR membership in a document posted on the railway and signed by the Trust Chairman and PLC General Manager. Doubtless this will appear in the railway press in due course.

Anyone know what the weight limit on that that bridge is likely to be ? if it cant be fixed in time for next season then NYMR will need class 4 + power at the lightest weight poss, or look to Run more trains Battersby to Whitby (which again is mainline fitted locos)to keep the earnings coming.
if its say 100 Tonnes plus in which case its a shrewd move - 76079 Might tick both those boxes.

I believe that itis planned to start work on the bridge in November. This years Santa Pecials from Grosmonmt are expected to run on the Esk Valley line, rather than Grosmont-Goathland.