Segro has raised £325m (€385.3m) from the placement of new shares.

The listed UK property company said 74,770,950 million new ordinary shares were placed by joint bookrunners Merrill Lynch International and UBS.

The shares represent around 9.9% of the industrial specialist’s share capital.

In a trading update, David Sleath, chief executive, said occupational demand for modern, well-located warehouse space has continued to be strong over the past two months.

“Although it is too early to assess the longer term impact of the UK vote to leave the EU, it has not yet had a material impact on our operating business,” he said.

“Our vacancy rate remains low and we have seen further net absorption of existing space,” Sleath said.

“There has been limited investment transactional activity in the warehouse sector in what is traditionally a quiet period,” Sleath said.

The firm has exchanged contracts to sell an industrial estate near Heathrow for a “small premium” to its June book value, he said.