Stenprop, the UK multi-let industrial property business, has formed an innovative partnership with Birmingham City University (BCU) to support its transition from a traditional property company into a customer-focused provider of industrial space.
Stenprop and BCU have entered into a Knowledge Transfer Partnership (KTP), which is a tie-up between a business, an academic institution and a graduate that enables a business to bring in new skills and the latest academic thinking to deliver a specific, strategic innovation project.
Stenprop will use its KTP to support its aim to be the UK's leading provider of space for SMEs through the development of a serviced industrial space model via its industrials.co.uk platform, driven by cutting-edge technology. BCU will provide the technical knowledge to analyse, quantify and extrapolate Stenprop’s tenant and other market data with a view to developing operational insight into the multi-let industrial sector, and ultimately, revenue-generating opportunities for Stenprop.
Stenprop and BCU are now seeking a suitably-qualified graduate with the capability to lead the two-year project.
Julian Carey, Group Property Director of Stenprop, said: “We believe there is a huge opportunity to disrupt the traditional property company model by applying innovation and technology within the multi-let industrial market. The partnership with BCU will enable us to develop a data-driven approach to our business model of offering space as a service to our customers, and will, in turn, improve customer retention, occupancy and, ultimately, drive rental growth”.
David Higgins, Professor of Real Estate at BCU, said: “This Knowledge Transfer Partnership is a great example of industry and academics aligning their capabilities to achieve defined goals.
“Innovation is changing the demand on real estate. Those owners that can learn and adapt will be leaders. Applying innovation as the key property strategy provides opportunities to help owners and occupiers realise the benefits of space well beyond the traditional bricks and mortar structures”.
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