I love the idea of this, but doing some quick estimates, I can't get the figures to add up:
On construction costs of 1.3-1.6bn, I would think they'll need to take somewhere between £50M and £100M a year in revenue to cover interest on the construction costs, some paying back some of the costs, and maintenance costs.
They are looking at running 4tph to Woking, 4tph to Waterloo, and an unspecified number of CR trains extended to Staines. Let's be generous and say all the Heathrow CR trains get extended (6tph). So you have 14tph, which makes about 200 trains per day in each direction. 400 trains per day * 360-ish days in a year makes about 150K trains per year running over HSR's track. So to make £100M a year, they'd need to take about £700 in track access charges for each train - to travel on 5-10 miles of their track.
I don't know how much track access charges typically are, but I can't believe they are anything like that high.
What am I missing?