Multi-let UK-based industrial property investor implements leading leasing and asset management technology to drive business transformation.
14 November 2018, London: VTS, the commercial property industry’s leading leasing and asset management platform, today announced that the UK-based multi-let industrial property investor, Stenprop, has selected VTS to manage its entire UK industrial portfolio. Stenprop is using the leasing and asset management platform to manage all tenant negotiations enabling it to make more informed business decisions faster and at scale, and ultimately deliver increased flexibility to tenants and higher returns to shareholders.
Stenprop is using the platform to manage all occupier activity across the UK, from Aberdeen to Dover, across all of its core assets including Compass Industrial Park in Speke, Liverpool. The asset is a 365,000 sq ft estate comprising modern, recently-refurbished units spread over three zones: East, West and Network Centre. The VTS platform is enabling the Stenprop team to collect and analyse tenant data to understand which parts of the process work well for customers and where improvements are needed – enhancing the experience for tenants, and accelerating overall transaction cycles.
The adoption of VTS follows Stenprop’s decision to transition from a multi-asset holder across several geographies to the UK’s leading provider of serviced industrial space for small and medium-sized businesses. This transition is focused on providing flexibility and a premium experience for customers, with the concept of space-as-a-service core to its new offering. Technology is playing a central role in this change.
Julian Carey, Executive Property Director at Stenprop, commented: “Stenprop is in the midst of a major business transformation, and technology is playing a critical role in the transition. As we look to expand our multi-let industrial asset business across the UK, we need a platform that can grow with us and enable us to become even more efficient. The VTS platform does just that, giving us unparalleled insight into our data which allows us to better understand what’s working across our portfolio, and make timely decisions to improve our leasing processes. The result is shorter voids, increased revenue and higher returns for our shareholders”.
Charlie Wade, Managing Director, UK at VTS, commented: “Stenprop’s adoption of VTS is a testament to its forward-thinking approach to its business. As Stenprop continues to revolutionise the multi-let industrial market, VTS will provide transparency into all occupier transactions, from an initial inquiry through to a signed lease, allowing the Stenprop team to spend its time focusing on the most important conversations that require attention. By reducing inefficiencies, Stenprop will be able to grow and scale at a rate that matches the firm’s ambitious business targets and allows it to act on an enviable market opportunity.”
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VTS is the commercial property industry’s leading leasing and asset management platform. Landlords use VTS to maximise portfolio performance by transforming their leasing and asset management process, enabling them to acquire the right tenants faster, sign the right deals at the best economics, and optimise the renewal process – reducing costly downtime. Agents can manage their deal pipeline and get tenants into empty spaces faster, collaborate across teams and work easily with their landlord clients using VTS for Agents.
The VTS platform manages over 9 billion square feet of office, retail, and industrial space, and a global user base of almost 40,000. VTS has an impressive client roster that includes top names such as The Crown Estate, LandSec, Helical, Aberdeen Asset Management, JLL, CBRE, and Knight Frank.
Stenprop is a Guernsey-registered UK REIT. The objective of the Company is to deliver sustainable growing income to its investors. Stenprop’s investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to www.stenprop.com.