- McKay Securities said it is well placed to respond to market conditions.

"We have a clear, proven strategy focused on realising the significant income potential from our portfolio of 36 high quality assets in the strongest economic regions in the country," it said.

"We are not exposed to any one market with 58% of the portfolio in the South East office sector, 18% in South East industrial property and 18% in central London offices.

"This geographic and sector diversity provides us with a broad tenant base which has historically proved highly resilient".

It noted that since the non-binding Brexit vote on 23 June, sentiment towards the property sector has turned more negative and share price volatility has reflected this sentiment.

"However, the asset class, and this company, retain many positive characteristics, and the impact on rental and capital values remains dependant on how our occupational markets respond to the vote.

"These markets continue to be characterised by historically low levels of supply of modern business space, which has contributed to recent rental growth.

"With a limited development pipeline and increasing building obsolescence, supply constraints look set to continue and to date, portfolio lettings agreed ahead of the vote have been unaffected."

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