Three bills were presented to Parliament in 1846-47 for the formation of railway companies to construct the relics of the thwarted L&B and LNWR ambitions in Buckinghamshire. The first two bills were for the establishment of the Buckingham and Brackley Junction Railway and the Oxford and Bletchley Junction Railway to construct lines from Bletchley to Oxford via Winslow and Bicester, and another from a point near Claydon House to Brackley and Buckingham. The third bill was for the amalgamation of the two companies into the Buckinghamshire Railway and the authorisation of an extension from Buckingham to Banbury. The bills were passed and, under the direction of the LNWR, the Buckinghamshire Railway was formed on 22 July 1847. The second Duke of Buckingham was chairman until he encountered financial difficulties and was replaced by Sir Harry Verney, with Buckingham's son, the Marquess of Chandos, taking a seat on the board.
Later history
was employed to construct the line, with Thomas Brassey as the civil engineeringcontractor. The line opened between Bletchley and Banbury on 30 March 1850, and between Verney Junction and Oxford on 20 May 1851. The line was worked by the LNWR, which originally leased the line, eventually absorbing the Buckinghamshire Railway on 21 July 1879. The Buckinghamshire Railway made modest profits until its valuable freight was re-routed through Oxford and Didcot, leaving it to sink into losses from which it never re-emerged. It continued until the Chairman of the LNWR, Richard Moon, was elected to the board on 23 February 1878 and by 15 July in the same year the company's shares had been consolidated with those of the LNWR. In 1879, the LNWR also absorbed the Bedford Railway which had constructed a line between Bletchley and. It had already absorbed the Bedford and Sandy Railway in 1865, which had constructed a line between Bedford and.
Present status
The line between Oxford and Cambridge was subsequently known as the Varsity Line and that between Banbury and Bletchley was worked as a separate line, the Banbury to Verney Junction Branch Line. The second line closed to all traffic by the end of 1966, while the Bedford to Cambridge section of the first line was closed as from the beginning of 1968. The section from Bedford to Bletchley remains as the Marston Vale Line and that between Oxford and Bicester was closed, but reopened to passenger traffic in 1986.
Plans
, the - section of the line is in operation. By 2025, the line is scheduled to reopen from Bicester through as far as, with a new station at. In the longer term, the route to is to be re-established via a new station at the East Coast Main Line crossing, near . The BefordCambridge section is to use a new route because the trackbed of the former Varsity Line has been built over.