UK real estate investment trust (REIT) Segro has raised £680m (€763m) to fund its European expansion plan.

On Tuesday, the London-listed firm announced plans to raise £650m capital by issuing new shares in the company via a share placing and a separate retail offer.

Segro said today that in light of the strong demand received both from existing investors and potential new holders, ”the board has decided to increase the size of the raise from approximately £650m to £680m”.

The amount raised will be used to invest in opportunities across the UK and Continental Europe through further, mostly pre-let, development projects together with acquisitions of land and investment assets.

Segro currently owns a warehouse property covering 7.8m sqm of space across the UK and continental Europe, valued at £12.2bn.

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