Great Central Railway
Silver Pass, Annual vouchers, Shareholder travel days, Charter hire discount
Great Central Railway (GCR) runs heritage steam and diesel trains between Loughborough and Leicester North in Leicestershire. Its eight-mile line has four stations.
What you get
A £1,250 holding brings a Silver Pass: free travel for you and a guest. Annual vouchers start at a £250 holding, and every shareholder gets two designated free travel days.
Silver Pass
The Silver Pass gives you and one guest free travel all year, including most events. Santa trains and Bonfire events are excluded, and GCR may announce other exclusions in its shareholder news sheet.
No dividends or established market
GCR’s rules prohibit dividends and restrict distributions when the company winds up. The shares have no established market and may have little or no resale value. GCR does not buy them back; holders can request a transfer.
Benefits can change
GCR’s board may vary the benefits. GCR’s shareholder web page still lists its March 2025 bands; this page follows the benefit sheet dated 28 February 2026.
A proposed change of company structure
GCR is considering conversion to a charitable community benefit society. It postponed the September 2026 meeting and has not announced a replacement date. The proposal has not replaced the current share offer.
Annual vouchers
Each band gives the total annual award. Silver Pass holders also qualify for the voucher band matching their holding. Vouchers cannot be exchanged for cash and give no change.
Charter hire discount
Silver Pass holders get £75 off hiring one of GCR’s charter vehicles, such as Arrowvale or the Verandah.
What it takes
Silver Pass
You need at least 5,000 Ordinary shares.
Silver Pass (£1,250)
5,000+ shares
- Travel for the holder and one guest Available throughout the year, subject to the exclusions above. GCR says existing and new Silver Passes remain valid; it does not describe them as lifetime passes.
- Mountsorrel Branch Branch trains and heritage-centre entry when arriving by train, rather than by road.
- Dining-train fare The pass waives the train-fare element, not the meal cost. Book ahead by phone.
Subscribe directly to GCR
Ordinary shares cost 25p each. The application minimum is £100 (400 shares) for new holders or £50 (200 shares) for existing holders. These are purchase minima; each benefit has its own qualifying holding.
Monthly subscriptions
GCR also accepts at least £10 a month by direct debit. Certificates are normally issued each January, subject to its allotment rules. Ask when your holding will qualify for benefits.
Annual vouchers
You need at least 1,000 Ordinary shares.
£250 holding
1,000–1,999 shares
- Annual award: £10 voucher For GCR products.
£500 holding
2,000–9,999 shares
- Annual award: 2 × £10 vouchers For GCR products.
£2,500 holding
10,000–19,999 shares
- Annual award: 3 × £10 vouchers For GCR products.
£5,000 holding
20,000+ shares
- Annual award: 4 × £10 vouchers For GCR products.
Shareholder travel days
The published terms do not state a minimum shareholding.
Qualifying shares: Ordinary shares.
Any holding qualifies
GCR’s benefit sheet offers these days to all shareholders. The share application form sets a £100 minimum (400 shares) for new holders and £50 (200 shares) for existing holders.
Charter hire discount
You need at least 5,000 Ordinary shares.
Before buyingA perk is a minor benefit of owning a share, not a reason to buy one. Share prices fall as well as rise, and dealing costs, spreads and tax can exceed a perk’s value. Unlisted shares may be difficult to sell. Check how transfers work and whether your broker supports the holding. Read about the risks.
Holding through a broker
Silver Pass
GCR’s form registers applicants in their own names. Its materials do not establish a broker or nominee claim route.
Great Central Railway does not say whether ISA or SIPP holdings qualify.
Annual vouchers
Great Central Railway does not say whether nominee, ISA or SIPP holdings qualify.
Shareholder travel days
Great Central Railway does not say whether nominee, ISA or SIPP holdings qualify.
Charter hire discount
Great Central Railway does not say whether nominee, ISA or SIPP holdings qualify.
How to claim
Silver Pass
Show the required pass or identification when booking and whenever your ticket is inspected or collected.
- 1. Apply for shares by postIf you decide to subscribe, post the completed application and payment to GCR’s Registrar, Great Central Road, Loughborough LE11 1RW. The application is irrevocable. GCR now requires an email address for shareholder correspondence.
- 2. Arrange your passAsk the shareholder team when your pass will arrive and check the news sheet for additional exclusions before travelling.
- 3. Phone for a dining trainCall the booking office on 01509 632 323 for the dining-fare waiver. Ask which charges remain payable.
Read GCR’s share application form
GCR shareholders - Applications, passes and changes to your details: shareholders@gcrailway.co.uk
GCR booking office - Dining trains: 01509 632 323
Annual vouchers
GCR does not publish a separate benefit-issue procedure.
- 1. Check delivery and use with GCRAsk the shareholder team when vouchers arrive, where you can spend them and when they expire. The published sheet does not give those details.
GCR shareholders - Voucher delivery and use: shareholders@gcrailway.co.uk
Charter hire discount
Ask the booking office what it needs to confirm your Silver Pass.
- 1. Book by telephoneCall the booking office on 01509 632 323 and ask for the Silver Pass charter discount.
GCR booking office - Silver Pass charter hire: 01509 632 323
Dates
The published terms do not say when you must own the shares, how long you must hold them or when the benefit expires.
Company story
Shares helped save the line
The railway’s early supporters tried charitable fundraising before selling shares. They formed the Main Line Steam Trust in 1971, but still could not raise enough to buy the line. Great Central Railway (1976) Ltd then sold shares. Even that saved only a single track between Loughborough and Rothley; Charnwood Borough Council bought the land extending south to Belgrave & Birstall. Staff and volunteers later restored the second track to Rothley and extended services to Leicester North.
The stations show different parts of the railway’s past. Loughborough Central presents the 1950s; Quorn & Woodhouse recalls the Second World War. Rothley keeps its gas lighting, a goods shed turned into a tearoom and a signal box brought from Wembley.
Sources: GCR history ; GCR stations