Industrial property and asset management company, NSM, has collected over 90% of all rents billed since lockdown commenced on behalf of landlords across the north of England.
Working closely with tenants to provide support and advice about Government initiatives, as well as managing staged payments, the team has managed the impact of Covid-19 on their clients’ businesses.
Nicky Jones, Managing Director of Doncaster-based NSM, says is vital to understand the impact of rent collections for both our clients as well as their tenants. She explained: “The team has worked incredibly hard to support tenants with advice and assistance as well as working closely with our clients to keep them updated. This has resulted in NSM collecting over 90% of all rents billed since lockdown began in March.
“Our business has remained agile, working with logistics and delivery companies to enable occupation of additional space in just five days. We are even assisting a tenant with short-term office space in order to convert their existing offices to larger warehousing and storage in response to the rise in demand for online purchasing.”
NSM recently assisted logistics giant Hermes to grow into two additional units at the Vector 31 Industrial Park near Sheffield as well as securing a number of property deals across the North West. The company also organised the swift occupation for a Yorkshire-based hand sanitiser supplier and distributor into a unit at the Allerton Bywater Networkcentre to meet increasing demand due to the coronavirus.
Nicky continues: “We are still receiving over 70 property enquiries each month. Business leaders are using these circumstances as an opportunity to look for new property or review their options and we have been available throughout to assist.”
“We haven’t furloughed anyone, nor do we intend to. We have continued to manage portfolios as our investors would expect us to and have used any spare time to adapt and improve the way we market and let their property to suit the current environment. We now have virtual tours of every available property and comprehensive data of every unit is available online.”
NSM attributes its success to its investment into PropTech. Its Spaceman platform handles every aspect of the letting process, all transactions and stores all documentation. In operation for three years, constant monitoring and improvement have ensured the company can conduct all property management matters online, instantly updating and allowing comprehensive performance reporting and are now committing further investment to integrate with the company’s back office and accounting systems.
Nicky concludes: “Our PropTech investment has definitely proved its worth during the pandemic. Our SpaceMan platform has enabled everyone to constantly monitor and action enquiries, viewings, lettings, payments, property and asset management from home.”
NSM manages over 4 million sq ft of industrial property across the north of England. Looking after 460 units and a rent roll in excess of £14million. The value of the assets under management is estimated at £237 million.
Formerly part of Network Space, in 2019 NSM launched as an independent business. Based in Doncaster and Warrington, NSM provides property and asset management, agency and property consultancy advice to a range of clients across the north of England.