The Holden F5 Steam Locomotive Trust was formed to build a LNER class F5 tank engine. Initially work started at a private workshop at Ovington in Essex in 2003.
It was initially intended to build the frames for the new locomotive at Tyseley but due to lack of space there the Holden F5 Steam Trust has commenced discussions with the North Norfolk Railway with a view to building the locomotive at Weybourne. However, latter discussions (April 2017) would indicate that the frames will still be completed at Tyseley. Once the frames are completed the work on building the locomotive will move to the North Norfolk Railway.
In October 2020 it was announced that the Holden F5 Steam Locomotive Trust had received a legacy which would enable it to complete the rolling Chassis at Tyseley.
In January 2021 it was reported that the cylinders had been fitted to the frames at Tyseley.