Goldfield's Railway has been unsuccessful in obtaining the ex-Newmarket signal box building.

According to KiwiRail, another rail heritage group obtained the historic structure, which was uplifted late last month.

Goldfield's Railway chairman Peter Cooper says while his team is disappointed in not securing the building, they are philosophical.

'We put a lot of effort into fundraising and would like to thank the support of HDC, as well as a number of people and businesses across the Hauraki District, for their support in our bid.

'If nothing else, it's given us the knowledge of how to tackle such opportunities in the future.”

Peter says with the number of projects currently underway or in the planning stages at Waihi's own historic railway, the loss of its bid for the signal box building would not have a major effect on the operation.

'It was a nice-to-have, not a must-have.”

KiwiRail has been asked to keep the group informed of any relevant railway structures that might become available in future.

The Goldfields Railway Society was formed in 1980 to preserve the local rail heritage. They are based at the old Waihi Railway Station, where they operate a tourist route between Waihi and Waikino.

There's a niche market for surplus to requirement railway buildings and structures. Marlborough-based company Pounamu Travel recently bought the former Balclutha turntable and transported the 28 tonne steel structure, by rail to Blenheim.

The company plans to run a World War I steam train between Blenheim and Picton from next year to bring cruise ship passengers to the Marlborough wine trails.

Pounamu Travel bought land for a siding at a business park south of Blenheim where the engine will be turned around on the turntable before taking passengers back to Picton.

The train will use the Blenheim Railway station.