Industrials is Stenprop’s UK multi-let industrial operating platform. Visit site

Our objective is to deliver sustainable and growing income to our shareholders.

In 2017 we identified UK multi-let industrial as a sector likely to deliver superior growth as a result of a structural imbalance in supply and demand. We believe a focused strategy both in terms of sector and geography will deliver investors strong risk adjusted returns.

The acquisition of a £130m multi-let industrial portfolio and an industrial management platform were the initial step towards achieving this goal and becoming the leading UK multi-let industrial business.

Our 4 Point Plan - 2018 to 2020

Recycling of assets

  • Planned disposal programme of £460 million of non-MLI, low yielding investments
  • Acquire c. £220 million of MLI investments in the UK – 65%+ portfolio weighting
  • NAV for NAV reinvestment into higher yielding, more sustainable growth assets
  • Intensive asset management on non-core assets to maximise value before sale

Deleverage

  • Reduce current gearing from 50% to 40% by end 2020
  • Target gearing of 30–40% thereafter
  • Utilise short-term bridge facility from Investec to facilitate the acquisitions/disposals process and minimise cash drag

REIT conversion and London listing

  • Convert to a REIT and list on LSE by June 2018
  • Cease Bermuda listing
  • Position the Company for longer term IFA/wealth management investors
  • Significantly increase liquidity and attract more EEA shareholders

Multi-let IndustriaL Platform

  • Development of ‘serviced industrial’ model
  • New asset management platform driven by cutting-edge technology
  • Development of flexible lease pricing model
  • Focus on driving rents and improving occupancy

Our Vision

“To be the leading UK multi-let industrial business”