Stenprop Investor Update Video -Interim Results
Stenprop Ltd this morning announced interim results for the 6 months ended 30 September 2019. In the video below CEO Paul Arenson and Executive Property Director Julian Carey update on the group’s financial, operational and strategic progress.
Stenprop owns and manages a portfolio of properties in the UK and Europe. Its focus has shifted towards UK based multi-let industrial assets (‘MLI’). The aim is for the portfolio to be 100% MLI by 2022. Stenprop’s units are occupied by a range of businesses, ranging from SME’s to larger, well known companies. Typical customers include logistics organisations, warehouses, industrial kitchens, gyms, shops, online businesses and offices. Customers are attracted by the lower rents, flexibility and proximity to the towns and cities they serve – Stenprop focuses on units which are near densely populated areas.
Unlike many areas of the UK commercial property market, at present there is a sizeable opportunity due to the supply / demand imbalance in the MLI sector. Demand is consistently increasing, and supply is restricted – Stenprop is buying MLI units at around 50% of their replacement cost, so there is no incentive for more to be built.
Stenprop is listed on the main market of the London Stock Exchange with the ticker LON: STP