Case Study
A New Lease of Life for Antiquated Student Housing
In the dynamic landscape of UK-wide student accommodation, Iceni Property Asset Management stands out as a specialist operator dedicated to breathing new life into antiquated student housing. Focused on providing safe and secure living spaces at reasonable prices, Iceni partnered with private equity firm Clearbell Capital, embarking on a mission to rejuvenate their forecasting and reporting practices.
Background:
As specialists in reviving old and under-managed student properties, Iceni faced the challenge of upgrading their forecasting and reporting systems. Formerly part of Clearbell Capital, we were recommended by our ex-colleagues to step in and operate the model on Iceni's behalf.
Solution:
Inheriting the existing model, we executed a comprehensive upgrade to tailor it for Purpose-Built Student Accommodation (PBSA) and operational investments. This transformation aimed to relieve non-financial personalities at Iceni from unnecessary strain, allowing them to concentrate on asset management.
Ongoing Support:
Our collaboration extended beyond the initial upgrade. From August-21 to December-23, for existing assets in Southampton and Aberdeen, we actively ran scenarios, compared actual data versus forecasts on a quarterly basis, and provided valuable insights for strategic decision-making. As Iceni looks to expand its portfolio, we worked hand-in-hand with them, modeling new assets, developing business plans, analysing loan terms, and preparing Investment Committee Papers.
Results & Benefits:
Streamlined Operations: The upgraded model enhanced efficiency, allowing Iceni to focus on asset management and property rejuvenation.
Data-Driven Decision-Making: Quarterly scenario analyses provided crucial insights for informed decision-making, ensuring optimal performance for existing assets.
Strategic Expansion: Our collaboration supported Iceni in modelling and strategising for new assets, streamlining business plans, and preparing for future investments.
Future Outlook:
With ambitions to expand their portfolio, Iceni Property Asset Management is well-positioned for growth, supported by robust financial forecasting and operational support. We wish them luck on their onward journey.
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