Stenprop wants to be the UK’s first true ‘serviced industrial’ provider, but will the concept be as revolutionary for the sector as it has been for offices? Paul Arenson and Julian Carey outline their plans.
The landmark occasion came just shy of a year after Stenprop, led by charismatic South African Arenson, bought Carey’s C2 Capital and its multi-let industrial (MLI) platform for £127m. It has been a whirlwind 12 months for the business, which has converted to a REIT and reshaped a board that now includes Watson as chief financial officer and former Cadogan chief financial officer Richard Grant as non-executive director.
It has not only listed on the LSE but also unveiled ambitious plans to become a ‘serviced industrial’ provider. So why has Stenprop decided to make such a bold move and does serviced industrial really have the same potential as serviced offices – or is there a reason no one else has already gone for it?
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