It will be the seventh member of its class and the only P2 in existence; the original six were built between 1934 and 1936 for the London and North Eastern Railway (LNER) to a design by Nigel Gresley, and employed to haul heavy passenger trains on the Edinburgh to Aberdeen line.

2001 Cock o' the North with some modifications to improve maintenance, address historic problems, and comply with modern railway operations.

In December 2010, it announced its intention to conduct a feasibility study into building a seventh Class P2, the most frequently requested engine.

[1] The study included the examination of commercial, engineering, and certification challenges that may arise and discussions amongst the trust and regulatory bodies were "very positive".

2001 Cock o' the North, but with extensive alterations to improve maintenance, lower life-cycle costs, address historic problems, and comply with modern operating requirements and standards.

The curve problem was studied using Resonate Group's Vampire software to simulate the vehicle's rail dynamics.

[3] The simulation determined optimal coupled wheelset clearances and design of a pony truck with side-spring control.

[2] The original P2 cylinder diameter of 21 inches (530 mm) is out-of-gauge where track has been positioned for a reduced platform gap.

[2] Modelling data for Prince of Wales and a modified design with a LNER Class V2-type pony truck, was released in early 2013.