The decentralisation of railway signalling systems has the potential to increase railway network capacity, availability and reduce maintenance costs. Given the safety-critical nature of railway signalling and the complexity of novel distributed signalling solutions, their safety should be guaranteed by using thorough system validation methods. In this paper, we present a rigorous formal development and verification of a distributed protocol for reservation of railway sections, which we believe could deliver benefits of a decentralised signalling while ensuring safety and liveness properties. For the formal distributed protocol development and verification, we devised a multifaceted framework, which aims to reduce modelling and verification effort, while still providing complementary techniques to study protocol from all relevant perspectives.