B2B Properties

A Message from Lord Pickles and Lord Blunkett, followed by B2B Properties's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from B2B Properties is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Rt Hon The Lord David Blunkett

Rt Hon The Lord Eric Pickles

www.b2b.properties

THE PARLIAMENTARY REVIEW

Highlighting best practice

22 | B2B PROPERTIES

FionaTaylor, managing director

City centre building

B2B Properties is a build-to-rent company currently

operating in Portsmouth, Hampshire. Churchill famously

said, “We shape our dwellings, and afterwards our

dwellings shape us” – a sentiment echoed – indeed, embodied

– by B2B Properties. B2B Properties was created six years ago

with a mission to create superior rental dwellings for millennials

(born 1980 to 1995) and Generation Z (born 1995 to 2005),

both in the physical residences themselves and particularly the

manner in which they are operated. Attention to detail and

personal attention differentiate this business at every stage

of the process. At the helm of this is Fiona Taylor, who in the

following piece explains the business in greater detail.

Who we are

An outsource business model was adopted from the outset which permits

maximum flexibility, innovation and focus on deliverables. Operationally this requires

close attention to clearly defined outcomes and monitoring quality. We treat all

stakeholders with a “high touch” approach expecting the highest levels of service

and professionalism as well as competitive commercial terms. Great attention is

paid to the well-being of all tenants, supporting their overall experience.

This strategy is not purely altruistic: each year the business delivers superior

returns in terms of occupancy and rental level achieved leading to more yield and

appreciation of asset value. One example is a fine four-storey Victorian building

purchased for £300,000 five years ago and revalued in 2018 at £1 million.

FACTS ABOUT

B2B PROPERTIES

»Managing director:

FionaTaylor

»Established in 2012

»Based in Newbury, Berkshire

»Services: Build-to-rent

construction

»Outsourced services: Tenant

acquisition, legal compliance,

HR, site management and

accountancy

»www.b2b.properties

B2B Properties

23B2B PROPERTIES |

BEST PRACTICE REPRESENTATIVE 2018

B2B Properties currently owns and

operates self-contained flats in central

high street locations. Due to local

planning conditions, the developments

are dedicated for student use but

future expansion will also address the

young professionals sector. With well-

reported growth in the numbers of

young people unable to get onto the

property ladder, this sector is forecast

to show strong demand for the

foreseeable future.

The term “function follows form” was

originated by Louis Sullivan, widely

recognised as the father of modernism.

We have adopted the same principle

for the design and operational

management of our portfolio.

Combined with Churchill’s maxim, the

business is founded on the recognition

that where you live and the style of

accommodation has a major impact on

the individual.

A company with focus on

people

In addition to the buildings

themselves, the manner in which

we run the business is intentionally

different. We treat everyone that

comes into contact with us as a

customer. Tenants, outsourced

suppliers, service providers: all are

treated with respect. When using

skilled local agents, we insist on the

highest standards of professional

trade body membership to assure

us they act legally, ethically and

professionally. That is the start and not

the end of our engagement with the

tenants. Once they have moved in I

personally meet with them individually

to ensure they are safe, comfortable

and understand the obligations on

them as individuals as well as part

of the community which exists in

eachbuilding.

Communal living space

We ensure the

properties are

safe,

comfortable

and in great

locations

“

THE PARLIAMENTARY REVIEW

Highlighting best practice

24 | B2B PROPERTIES

For some students and tenants it is

the first time leaving home. Having to

take care of themselves, accommodate

themselves to a new environment

and often studying is a lot to take

in. Moreover, if the tenant is from

overseas, this can be the first time

away from their country, which is yet

more pressure – along with day-to-day

cultural issues.

To study or work effectively is

important, so the environment has

to be comfortable, safe and one that

works. Basics such as high-speed wifi,

secure buildings and clean common

areas are now expected and provided.

Beyond material concerns, tenant

welfare plays a hugely important

role. For students, universities are

now recognising this area and the

importance of it. It adds value to the

learning and enhances the experience

for the individual. Our reputation

as landlords is unique: knowing, for

instance, that we can offer help in areas

such as health – including mental – we

feel encourages the student-tenant

relationship and long-term satisfaction.

B2B Properties is the first property

company to link with the local

university in this way. We embrace

ways to promote an innovative

university pastoral care service called

“Sort-it”. The service is free and open

to all, not just students, so staff are

also welcome. Its guiding principles

are “speak up, stand up” and it is

designed to give a voice to students

experiencing problems of whatever

nature. I have personally been involved

with the expansion of the service to

include the property sector, and take

this message to the tenants.

Here’s one example of how we’ve

worked with our tenants to illustrate

how we put this philosophy into

practice. I came to know a civil

engineering undergraduate from Jordan

when the huge Victorian bay windows

in her studio were replaced last winter.

Even though the task took a couple

of days, and it was bitterly cold and

disruptive to her study programme,

she remained positive and disarmingly

polite throughout. Fatima shared with

us that she was frustrated at difficulties

in securing a job placement in civil

engineering to support her studies.

Thanks to our business relationships,

we introduced her to a leading

building services company who was

pleased to offer a suitable role.

When a current fundraising round

has been completed later this year,

B2B Properties will be replicating this

business model and expanding into

carefully targeted locations in the

UK. One of the challenges will be to

maintain this quality of service across a

broader geographic area: a challenge

we relish.

It’s been a steep learning curve.

It required disposal of a batch of

properties which generated below

target yields, and buying, then selling,

a hotel that offered managed services

to the same sector. Throughout

this journey our adherence to the

core principles of close hands-on

management, coupled with clear

communication with all stakeholders,

means we truly do fulfil Churchill’s

words for each of our tenants.

Tenant

welfare plays

a hugely

important role

“

Designed for living

Period features

www.b2b.properties

This article was sponsored by B2B Properties. The Parliamentary Review is wholly funded by the representatives who write for it. The publication in which this article originally appeared contained the following foreword from Rt Hon Kwasi Kwarteng.

Rt Hon Kwasi Kwarteng's Foreword For The Parliamentary Review

By Rt Hon Kwasi Kwarteng

This year’s Parliamentary Review reflects on a tumultuous and extraordinary year, globally and nationally. As well as being an MP, I am a keen student of history, and I am conscious that 2020 would mark the end of an era. It will be remembered as the year in which we concluded Brexit negotiations and finally left the European Union. Above all, it will be remembered as the year of Covid-19.

In our fight against the pandemic, I am delighted that our vaccination programme is beginning to turn the tide – and I pay tribute to the British businesses, scientists and all those who have helped us to achieve this. But the virus has dealt enormous damage, and we now have a duty to rebuild our economy.

We must ensure that businesses are protected. We have made more than £350 billion available to that end, with grants, business rates relief and our furlough scheme supporting more than 11 million people and jobs in every corner of the country, maintaining livelihoods while easing the pressure on employers. The next step is to work with business to build back better and greener, putting the net zero carbon challenge at the heart of our recovery. This is a complex undertaking, but one which I hope will be recognised as a once in a lifetime opportunity.

Through the prime minister’s ten point plan for a green industrial revolution, we can level up every region of the UK, supporting 250,000 green jobs while we accelerate our progress towards net zero carbon emissions.

With our commitment to raise R&D spending to 2.4% of GDP and the creation of the Advanced Research & Invention Agency, we are empowering our fantastic researchers to take on groundbreaking research, delivering funding with flexibility and speed. With this approach, innovators will be able to work with our traditional industrial heartlands to explore new technologies, and design and manufacture the products on which the future will be built – ready for export around the globe.

And I believe trade will flourish. We are a leading nation in the fight against climate change. As the host of COP26 this year, we have an incredible opportunity to market our low-carbon products and expertise. Our departure from the EU gives us the chance to be a champion of truly global free trade; we have already signed trade deals with more than 60 countries around the world.

As we turn the page and leave 2020 behind, I am excited about the new chapter which Britain is now writing for itself, and for the opportunities which lie ahead of us.

Rt Hon Kwasi Kwarteng
Secretary of State for Business, Energy and Industrial Strategy