Rolling stock financier, Porterbrook, has agreed a deal to purchase Long Marston Rail Innovation Centre in Warwickshire.

£13m has already been invested Porterbrook for upgrades to the centre, but a new deal will see Porterbrook acquire the centre from St Modwen.

New lighting, roads and new security systems have been introduced by Porterbrook at the site .

“This deal provides absolute clarity for our business, our shareholders and the wider rail industry over the long-term future of Long Marston Rail Innovation Centre” said Mary Grant, CEO of Porterbrook.

“It gives us the certainty to move forwards with our plans and invest further to deliver an exceptional facility for testing, training, maintenance and storage for the railway.”