AN ambitious project to reopen Broadway Railway Station and reconnect the line to Cheltenham racecourse is on track to open ahead of schedule.

A share scheme introduced last year by Gloucestershire Warwickshire Steam Railway to raise half a million pounds in a year succeeded in smashing the target by £65,000.

The project to wake the station and track from its 55-year British Rail-induced slumber was mooted in 2008 and fundraising has gathered momentum ever since.

The revenue from the shares was needed to restore five bridges between Laverton, the railways present northern end, and Broadway, two miles distant is almost complete.

It required extensive work to repair the steel spans of four of the bridges, which had suffered severe corrosion, as well as masonry repairs and in two cases, damage from several collisions by over-height lorries.

Chris Bristow, the steam railways's finance director said the success of the share offer means that Broadway’s station, currently being rebuilt on the site of the original will open sooner rather than later.

“I and the board extend out heartfelt thanks to every single investor in this offer, whether £100 or £10,000. It includes many people from Broadway who are keen to see their town on the railway map once again.

“We also express our appreciation for the patience of local people as roads had to be closed temporarily so that the necessary repairs could be carried out.

“Success of the share offer also means that the railway has been able to make its first purchase of rail for the project. Sufficient rail has been delivered from Tata’s Schuthorpe steelworks to lay the first half-mile of track. The railway already has sufficient concrete sleepers to extend the line to Broadway. This work will begin in the new year,” he said.

Work on rebuilding Broadway station and laying track is being carried out by volunteers and significant sums of money still need to be raised to pay for materials such as ballast, further rail, drainage works and fencing it is likely to be up to three years before the first train for more than half a century steams into Broadway.

Although the tax-efficient ‘Bridges to Broadway’ share offer obtained through the Government’s enterprise investment scheme has had to close, ordinary shares in the steam railway are still available.