Waterman Steam fleet

It seems as though Pete Waterman is looking to sell off his steam locos, which begs the question of where they might end up. There's 5553 and 5224 and possibly 6634, all of which could be quite desirable to other railways - maybe the Gwilli or Bodmin & Wenford for 5553, but what about the others? Torbay for 5224?

 

Are these all in working order?

 

None of them, but how often do these types appear on the market, working order or not?

 

At least 2 GWR locos in working order have changed hands this year. I suspect we might see more of this in the next few years as more private owners reassess their position.

 

I have seen a report that it had been stored oou at Bodmin due to a failure of boiler tubes, but other reports say it is currently at Peak Rail and has a boiler ticket to 2031, so it could be either case! Personally, I hope the the Gwilli Railway manage to secure it, although having already bought L160 it might be a stretch too far, but it would be the ideal home for it.

 

I suspect that wishing not to saddle their heirs with a relatively illiquid asset that will be subject to inheritance tax will be a major part of it.

 

More often than you may think.

You haven't quoted any source for your news , is there an asking price or is it a matter of tender / negotiation? If I were looking to buy an engine ( and I'm definitely not) the matter of whether it was in working order and available for use would be of considerable interest and the price I would be prepared to pay would reflect this. As with boats there are only two good days; when you buy it and when you sell!

 

5224 had a good long and successful stay on thre NYMR, as did 4277 before it. And 6619 for that matter so any of these locos would be suitable for that line purely in terms of operational ability. They have got to be cheaper than a tender loco to operate and maintain. The fact that they are all ex GWR isn't going to advantage them in this case, though.

 

Indeed, or timing may be prompted by a loss for CGT purposes coming in handy to offset investment gains.

 

There is also the option of personal expenses including divorce payments or the wish to purchase alternative expensive items given his interest in model railways - a particular nameplate perchance ?

 

Timing might be influenced by lack of a home .All the diesel fleet and obbo coach sold already.

 

All the diesel fleet? So who owns Ixion now?
More generally, aren't the locomotives held by a Trust? So would the trustees be able to dispose of them, other than to a similarly constituted body? That might limit who could realistically buy them, if the report is indeed correct.
I have a soft spot for 5224 as it was a stalwart of the GCR in my early years volunteering there (and makes interesting noises when coasting). Don't think I'll be buying it though. Think the kids would rather have a roof over their head.

 

The Waterman Railway Heritage Trust has two trustees - Pete Waterman and his son. D172/46035 and D7659/25309 have been sold to Harry Needle. D1501/47402 is owned by McLaren Rail and based at Chinnor.

 

Trackside magazine's Facebook post dated 6/11/25 says their December issue includes "EXCLUSIVE: Pete Waterman puts his steam locomotive collection up for sale after disposing of diesel fleet".

Although some or all of the locos may be owned by a charitable trust this need not prevent disposals, so long as the proceeds are used in accordance with the charitable aims.

 

Who owns the Super D then ?

 

NRM. Waterman paid for it to be overhauled but always been in the national collection.

 

Well, after a bit of a trawl around the internet it appears that none of the locos are in working order. 5553 is stopped due to leaking tubes and overhauls of 5224 and 6634 are still work in hand , that was until all were placed on the market. I don't think 6634 has ever steamed in preservation. I wonder if it's a buyers or sellers market at present?