The company will use the proceeds to fund its pipeline of development opportunities.

It is on track to invest over £600m in development capex, infrastructure and land in 2019, following £688m of investment in 2018, £507m in 2017 and £457m in 2016.

It has also agreed, or is in advanced discussions, for approximately £430m of future development capital expenditure.

Of this amount, £211m has already been committed to complete the current development pipeline, as of 31^st December 2018.

A further £218m is associated with potential projects, where either a pre-let has been agreed, subject to planning, or is in advanced negotiations.

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The company has deployed over £1.5bn into development across the UK and continental Europe since 2016, generating a cumulative capital value uplift of over 20%.

David Sleath, chief executive at SEGRO (pictured above), said: “Occupier and investment market conditions remain supportive and we continue to experience strong demand for new warehousing.

"We are on course to invest over £600m in further development projects and additional land purchases this year.

“We believe using new equity alongside our existing debt facilities and the proceeds from normal course portfolio recycling will ensure that we can continue to deliver the attractive returns from development while retaining a strong balance sheet.”