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?