UK: Serviced apartment operator Urban Stay has invested in new London inventory and is looking to hire staff.
The company says a recent investment has enabled it to invest in a further four central London properties, and it will be hiring new staff shortly.
Urban Stay is currently seeking additional investment “in order to capitalise on this remarkable momentum, the firm is hoping to find a central London office in addition to further property acquisition”.
James Swift, Urban Stay’s co-founder and managing director said: “The London property market has recovered almost completely since the 2008 downturn. Now we’re finally seeing new properties available in the central London market and Urban Stay is excited to acquire more in our key City locations. We are actively seeking further investment in order to accelerate our already impressive portfolio growth.”
Urban Stay, which has its headquarters in London, was founded earlier this year. Following European and American investment, the company says it expanded quickly into the corporate serviced apartment market with “a number of enviably located flats in the Liverpool Street station area on Bishopsgate”.
The company reported monthly turnover surpassing £30,000 in only its second month, and is on track to double that this month. Urban Stay says its first year’s annual revenue of is expected to now significantly surpass initial investor expectation.
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