Segro has undergone a shake-up of senior management and plans to sell up to £500m of its property in the UK. The Daily Telegraph

Chief executive Ian Coull has reduced the number of divisional heads from six to three. The main division will consist of the £1.4bn Slough Trading Estate and the other two divisions will be split across the rest of the country.

John Heawood, the head of UK property, is understood to be leaving Segro.

Segro, which became a real estate investment trust (REIT) at the start of the year, declined to comment.

However, a source close to the company said the reorganisation was not linked to an announcement by Segro last week that it was considering changing its structure.