Britain's decision to leave the European Union has opened up a "new panorama" on the status of Gibraltar, according to a senior Spanish minister, who called on Britain to enter negotiations on joint sovereignty.

The small peninsula off the south coast of Spain, a British Overseas Territory since 1713 and known to its 30,000 residents as "the Rock", is a major point of contention in Anglo-Spanish relations.

Shortly after the referendum result was confirmed, José Manuel García-Margallo, the Spanish foreign minister, told a national radio station: "It's a complete change of outlook that opens up new possibilities on Gibraltar not seen for a very long time. I hope the formula of co-sovereignity - to be clear, the Spanish flag on the Rock - is much closer than before," he said.

Spain will push for Gibraltar to stay out of any general negotiations with the European Union following Britain's exit from the bloc and will aim for bilateral talks to seek co-sovereignty and eventually Spanish control of the peninsula, Mr Margallo said.

Gibraltar voted overwhelmingly in favour of Britain remaining in the European Union on a large turnout in the first result of the EU referendum vote count on Thursday evening.