The Asset Factor sells 50% stake in NB Entrust

10 December 2009

The Asset Factor, Helical Bar’s property asset management and outsourcing venture, has sold its 50 percent shareholding in NB Entrust, to its JV partner, NB Real Estate.

NB Entrust will operate as a wholly owned subsidiary of NB Real Estate. The business currently provides FM to NB Real Estate’s investment and occupier clients under a prime supply agreement. The JV was set up in January 2007 as a special vehicle to improve supply chain arrangements and service levels and to introduce new training and IT systems to support NB’s FM service offer.
The Asset Factor is a property asset management company established in 2005 as a 50/50 joint venture between Helical Bar plc and the management team of Oliver Jones, Matthew Punshon and Keith Perry. NB Real Estate is an independent property consultancy with offices managing a combined estate of 100m sq ft of investment and operational property. NB Real Estate is a partner of ONCOR International, a network of real estate consultancies.
Michael Hatt, Chairman of NB Real Estate: “Our vision is to develop a more efficient and innovative property and FM service to increase the operational and investment value of our substantial managed estate. Sole ownership of NB Entrust will enable us to accelerate integration of our property management and FM services.The specialist expertise of the Asset Factor team has been invaluable over the last three years. Together we’ve driven through service improvements, better value pricing and an integrated IT platform. These improvements are fundamental to delivering our long term strategy and we are hugely appreciative of The Asset Factor’s input.”
Oliver Jones, Chief Executive of The Asset Factor: “We have fulfilled our objective to create the UK’s market leading landlord-focused FM business and we’re delighted with this outcome. We were thrilled that NB Entrust won the award for Best FM team in the UK for Property Investors at the BIFM awards in October this year. This accolade confirms the remarkable achievement of the Asset Factor and NB’s teams together over the last three years in creating this exciting new brand.”

www.theassetfactor.com