Yorkshire rail firm sells freight sites

DB Schenker Rail (UK), headquartered in Doncaster, has sold a number of rail freight sites to Network Rail Infrastructure.

The deal has seen DB Schenker Rail (UK) sell 87 rail freight sites to Network Rail. The deal also saw Network Rail acquire a further 18 rail freight sites – 15 from Freightliner and three from GBRf.

The real estate team at the Leeds office of national law firm Mills & Reeve assisted the in-house legal team at the firm.

The majority of DB Schenker Rail (UK) operational freight sites will remain in DB Schenker Rail (UK) ownership and the company said it will continue to invest strategically in property where it can make the most of emerging market opportunities.

Network Rail has stated that the acquisition of the leasehold sites will help it make better use of the network, providing improved access to freight operators and adding capacity at critical points on the East Coast and West Coast main lines.

Simon Sherwood, Mills & Reeve partner in the Leeds office led the team. He said: “We are delighted to have supported national rail freight operator, DB Schenker Rail (UK) Limited, on such a substantial and nationally significant transaction which will lead the way for further development of the UK freight industry.

“Our long-standing and close working relationship with the DB Schenker Rail (UK) Limited legal and property teams proved invaluable in delivering this complex property transaction affecting a large part of the UK’s transport infrastructure.”

Chris Thornes, head of commercial law at DB Schenker Rail (UK), added: “The team at Mills & Reeve provided an extremely professional and high quality service which helped us to deliver this complex and demanding transaction.”