He had spent eight months gathering support from local organisations and individuals to bring the two locomotives and seven carriages south, restore them, and operate the daily service, although it could be several months yet before the plan came to fruition, he said on Thursday.
Mr Campbell's plan is to promote a ''heritage wheels cluster'' in Invercargill, drawing visitors to transport-focused attractions such as the Bill Richardson Transport World Museum and the Burt Munro motorcycle displays at E Hayes and Sons and the Southland Museum and Art Gallery.
The truck museum, run by the Richardson Group, is being expanded to become a significant tourism attraction.
Provided Mr Campbell's plans succeed, the Richardson Group has offered him the use of a large shed and yard next to the main trunk railway for three years.
The Flyer, which ran for decades between Kingston and Invercargill, has had several owners since it became a heritage service on the Lumsden-Kingston line in 1971.
Current owner David Bryce, of Renwick, had it for two years until he put it on the market for $2.5 million in 2013, citing health issues.
The price later dropped to $2.1 million.
The rolling stock, rails, two railway stations and associated items are protected under the Queenstown Lakes District Council district plan and cannot be demolished or removed.
Mr Campbell said seeking a district plan change to allow the rolling stock to be shifted to Invercargill was the urgent priority as his proposal could not succeed without it.
He said he had $10,000 available to engage lawyers and hoped to begin that process as soon as possible.
This week, Jason Rhodes, owner of the National Transport and Toy Museum at Wanaka Airport, said he had had discussions with Mr Bryce over giving the Flyer a final resting place - on blocks as a static display.
New Zealanders could not allow that to happen, Mr Campbell said.
''Someone has to do something with it. It's run or rust, isn't it?
''The locomotives and carriages originally ran in Southland. The Flyer has got to come home.''
Mr Campbell said he had offered Mr Bryce $500,000 for the locomotives, carriages, Fairlight railway station, turntable and water tower and expected to be able to get it for that price, unless Mr Bryce sold to someone else in the meantime.
He estimated it would require a further $500,000 to restore the rolling stock.
Mr Bryce confirmed yesterday he had spoken to Mr Campbell but said no formal offer had been received and no price had been discussed.
''He hasn't got any money, has he?'' Mr Bryce said he would be prepared to sell off just the rolling stock if he could not sell the whole business.
Federation of Rail Organisations of New Zealand president Grant Craig, of Dunedin, said yesterday he did not think the Flyer ''was a goer'' on the Invercargill-Bluff line.
The Flyer ran between Invercargill and Bluff for three years before being moved back to the Fairlight-Kingston line in 1982.
Mr Craig, operations manager at Taieri Gorge Railway, said if the Flyer could not make money at Kingston, close to a major tourist destination like Queenstown, it would not be viable in Southland.
