Gloucestershire Warwickshire Steam Railway

The GWR Preservation Society was formed in 1976, immediately after the closure of the Honeybourne line, with the explicit aim of preserving the section of trackbed between Cheltenham and Stratford. The Society acquired Toddington and the trackbed northward and southward, with the first preserved trains running in 1984.

Progressive extensions reopened the southern end through Gotherington to Cheltenham Racecourse (1995). The northern extension to Broadway was a long-term project, requiring substantial trackbed clearance and the complete rebuilding of Broadway station; it opened in 2018 as one of the most successful single heritage-railway extensions of recent years.

The line was opened by the GWR in 1906 as part of the Cheltenham–Honeybourne–Stratford route, providing the GWR with a north-south through path between Birmingham and Cheltenham/Bristol/South Wales. The line was double-track and included substantial engineering, most famously the Greet Tunnel between Winchcombe and Toddington. Passenger services ended in 1968 and the line continued in freight use until a major derailment in 1976 led to immediate closure.

Toddington is the headquarters, with locomotive shed, carriage works, and museum. Winchcombe is the main intermediate station, with a substantial GWR-style building. Cheltenham Racecourse is the southern terminus, busy on race days when through services from Network Rail use the heritage station. Broadway is the northern terminus, rebuilt from scratch to GWR specification in 2018.

The line operates an extensive events programme: spring and autumn steam galas, diesel galas, 1940s weekends, dining trains (the popular "Cotswold Festival of Steam" is a highlight), real-ale specials, and Santa Specials.

Cheltenham Racecourse station has road access from the A435 and is close to the Network Rail Cheltenham Spa station. Toddington is signposted from the A46. The line operates weekends most of the year and daily in peak summer.