UK-focus landlord Stenprop is seeing continued demand for its multi-let assets, and has not retrenched staff or put them on unpaid leave as the Covid-19 pandemic batters the property sector.
Stenprop said on Tuesday that though there was lower demand for letting in recent weeks, inquiries were typically “more focused and urgent” and there had been an increased conversion rate from inquiries into leases.
The group said its investment in its online digital marketing platform had paid off, and was likely to lead to increase demand in the longer term. The group did not go into details on this investment, but said in the release of its results for its half year to end November that it had enhanced its consumer-facing website and improved the handling of leasing enquiries.
The company is seeking to become a specialist UK-focused group that provides work spaces for small and medium businesses.
Up to the end of November, just under half of the group’s £654.5m (R15bn) portfolio was multi-let assets.
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