Indurent Company Profile

Background

Indurent is a leading developer and manager of industrial and logistics spaces across the UK. Formed in 2024 through the integration of St. Modwen Logistics and Industrials REIT, Indurent combines over 30 years of expertise in property development and management. The company is owned by Blackstone, a global leader in real estate investment. Indurent's mission is to provide versatile, high-quality industrial and logistics spaces that drive economic growth by bringing jobs and investment to local communities. With a portfolio exceeding 30 million square feet, Indurent caters to a diverse range of businesses, from small start-ups to multinational corporations.

Key Strategic Focus

Indurent's strategic focus centers on:

Customer-Centric Approach: Tailoring solutions to meet the unique operational needs of each business, ensuring spaces that enable growth and success.

Flexible Spaces: Offering a variety of industrial units and logistics spaces, from smaller units for growing businesses to large, bespoke build-to-suit projects for multinational clients.

Sustainability: Embedding sustainability at the core of design and build processes, aiming to reduce environmental impact and promote long-term sustainability.

Community Engagement: Investing in developments that uplift local communities through job creation and economic support.

Financials and Funding

In 2024, Indurent made significant investments, including the acquisition of an 18-asset portfolio from PGIM for £200 million. This portfolio comprises multi-let estates and mid-box warehouses across the UK, with many assets located in major cities such as Leeds, Manchester, Reading, and Birmingham. The company plans to refurbish these assets to make them suitable for tenants.

Pipeline Development

Indurent has a robust development pipeline, with plans to deliver approximately 2.8 million square feet of new urban and big-box logistics units in key UK locations by the end of 2025. The company's landbank stands at an impressive 25.6 million square feet, with around 33% already benefiting from planning consent. Current developments include major schemes across the country, with further phases and new developments set to begin imminently.

Technological Platform and Innovation

Indurent leverages a tech-enabled platform to enhance customer experience, supporting frictionless processes and speeding up response times. The company offers two types of leases: the exclusive Smart Lease and a Traditional lease, both tailored to suit business needs and completed as soon as possible.

Leadership Team

Julian Carey: Chief Executive Officer

Tom Olsen: Chief Financial Officer

Sarah Bellilchi: General Counsel

James Cooper: Head of Transactions

Lee Nash: Head of Development

John Whitley: Sales, Marketing & Customer Experience Director

Mike Handley: Finance Director

James Snowdon: Chief Technology Officer

Simon Ross: Head of Portfolio

Will Lutton: Deputy Head of Transactions

James Wakelin: Head of Capital Markets & Sustainability

Leadership Changes

In 2023, Julian Carey was promoted to CEO of Industrials REIT, which later merged with St. Modwen Logistics to form Indurent in 2024.

Competitor Profile

Market Insights and Dynamics

The UK industrial and logistics sector has experienced significant growth, driven by increasing demand for high-quality, strategically located spaces. The market is characterized by a competitive landscape with several key players.

Competitor Analysis

SEGRO plc: A leading owner, asset manager, and developer of modern warehousing and industrial property.

Prologis UK: Specializes in logistics real estate, offering a range of industrial properties across the UK.

Tritax Big Box REIT: Focuses on acquiring and managing large-scale logistics real estate assets.

Strategic Collaborations and Partnerships

Indurent has established partnerships with various stakeholders, including local authorities and major companies, to develop and manage industrial and logistics spaces. The company has a diverse customer base of more than 2,000 businesses, ranging from small start-ups to multinational corporations.

Operational Insights

Indurent's extensive portfolio and strategic developments position the company as a significant player in the UK industrial and logistics sector. The company's commitment to sustainability, customer-centric approach, and technological innovation provide distinct competitive advantages.

Strategic Opportunities and Future Directions

Indurent aims to continue expanding its portfolio through acquisitions and new developments, with a focus on delivering high-quality, sustainable industrial and logistics spaces. The company's significant landbank and development pipeline position it well to meet the evolving needs of the market.