Network Rail has announced it has reached a deal to acquire ownership of many of Britain’s key rail freight sites from three of the country's biggest freight-operating companies.

More than 100 leasehold sites are to be transferred from DB Schenker, Freightliner and GB Railfreight as part of a self-financing transaction.

As a result of the deal, Britain's freight sites will be more readily available to the growing number of rail freight operators and end users. The agreement will spur competition and growth in a sector that contributes nearly £900 million to Britain's economy each year and supports an economic output of £6 billion.

Paul McMahon, freight director at Network Rail, said: "This represents one of the biggest changes to the rail freight sector in this country in decades and is a bold strategic move by the industry."

The deal will enable freight traffic to use the network more effectively and efficiently, while it will also enable redundant land to be redeveloped.