Two depart Network Space after restructure 

Managing director Nicky Jones and finance director Mike Dunn have left the company’s asset management arm NSM, which has ceased trading. 

NSM’s internal operations will be absorbed by Network Space, which will concentrate on the development of new-build industrial accommodation from now on. 

Richard Ainscough, chairman of Network Space, said: “We are an agile organisation, responding to the changing dynamics of the property industry so that we can continue our growth, having just closed a challenging year with a 13% increase in net asset value.  

“We have a strong balance sheet and healthy cash reserves to deploy in suitable new opportunities and, over the next five years, aim to deliver a further 2.5m sq ft of new industrial property.” 

Jones has left Network Space after 24 years with the firm. She began as a property manager in 1999 and has spent the last 12 years as a director. In a post on LinkedIn, Jones said she was “truly proud” of her time at the firm.   

Ainscough added: “I would like to thank Nicky who has been with us for 24 years, establishing and growing NSM, attracting clients such as 4i, ARA Europe and Mileway. She has been a valued member of the Network Space board and will be dearly missed. The team and I wish her and Mike every success in their next ventures.” 

Finance director Dunn spent six years with Network Space, joining from Avant Homes in 2017.