Network Rail plans sale of city stations

Paddington is one of the stations that could go up for sale

Network Rail is considering the sale of a number of the UK's best known railway stations in an effort to shore up its debt-laden balance sheet.

London's Paddington and Waterloo stations and Birmingham New Street are stations that could be put up for sale.

Speaking to the Financial Times, Network Rail chief executive Mark Carne said £1.8bn could be raised through the sale of 7,500 other properties.

These include freight yards, car parks, arches, depots and spare land.

A spokesman for Network Rail confirmed that financial advisers had been appointed to consult on possible options.

In a statement, Network Rail said: "We are looking to generate some £1.8bn of funds from our property assets by 2019, enabling us to invest in building a bigger, better railway.

"We're taking a long hard look at which assets, ensuring we keep what we need to grow and expand the railway, but then looking at ways we can realise best value from the rest to reinvest."