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Newly listed Stenprop talks 'serviced industrial space' strategy in the UK

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Newly listed Stenprop talks 'serviced industrial space' strategy in the UK

Stenprop Ltd. debuted June 15 on the specialist fund segment of the London Stock Exchange as a new industrial-focused real estate investment trust.

In addition, Stenprop said in a release that it plans to develop a technology-driven serviced industrial space model. The model, which seeks to provide the same flexible services that office tenants have, will allow tenants to sign up for six weeks to six years on the company's Smart Lease online platform, Property Week reported.

To support the plan, Stenprop also formed a partnership with Birmingham City University to develop a data-driven approach to the model, according to the report.

The REIT, which has now delisted from the Bermuda Stock Exchange but remains listed in Johannesburg, was first reported to be considering a conversion into a U.K. REIT in June 2017. The plan gained traction earlier this year and became effective May 1.

Stenprop's shares trade under STP in London.