Firm launches V7 Industrial to capitalise on growing client demand
V7 Asset Management has recruited Stephen Parry-Jones to spearhead its new specialist industrial offer.
The new division – to be known as V7 Industrial – has been launched to capitalise on growing demand for the firm’s services in the sector, complementing V7’s existing capabilities in the office market.
Stephen joins as a director from Aviva Investors, where he led the business’ industrial real estate investment strategy, prior to which he worked within Lambert Smith Hampton’s national investment team. He will be focused on developing V7 Industrial through new instructions and drawing on the firm’s existing client base.
The new business is V7’s first foray into the industrial market, building on its current specialism in the office and workplace sectors. Beyond its innovative asset management service, V7 has an established capability in deal origination, sourcing and executing off-market opportunities for clients.
V7 Industrial will mirror this approach, drawing on Stephen’s industrial market expertise to identify opportunities, develop asset management strategies and execute asset-specific business plans.
Industrial and logistics property has been the main beneficiary of long-term shifts such as the growth on online retail, a trend that has been accelerated by the impact of COVID-19. But with both supply and development starts at historically low levels, there are considerable opportunities in the sector for active asset management, particularly in bringing obsolescent and secondary stock up to date.
Matt Leach, director at V7, said: “As a firm we are well-known for our office specialism, but have for some time had an eye on industrial, both as a market that holds considerable opportunities and a sector where many existing clients would benefit from our approach. The launch of V7 Industrial with Stephen’s arrival, and the market-leading expertise he brings, is a step-change for the firm and will greatly expand our capabilities in the sector.”
Stephen Parry-Jones, director at V7, added: “The opportunity to build a new business under the V7 umbrella was too good to turn down, and I look forward to bringing the innovative approach for which the firm is renowned to industrial property. It is a market that is going through significant change, benefitting from huge shifts in consumer behaviour and holds great potential for value enhancement for both existing investors and those seeking exposure to the sector.”
Founded five years ago by Chris Hunt and Zak Veasey, V7 Asset Management has grown to become one of the sector’s highest-regarded firms. Built around the principle that asset management can be done better, V7 now oversees close to £500 million of assets with a rent roll of £23 million. Since it was launched, V7 has managed 400,000 sq ft of new lettings, £85 million of capex projects, 600,000 sq ft of lease re-gears and secured planning permission for nearly a 750,000 sq ft of space.
Stephen will be based with the rest of the team at V7’s London office at 5 Margaret Street, and can be reached via email (email@example.com) or phone (07771 388 262).