Staycity signs deal for Birmingham serviced apartment development

By Carina Perkins contact

- Last updated on GMT

Related tags: United kingdom, Studio apartment, Hotel

Staycity's new Birmingham property is part of its plan to reach 5,000 apartments in Europe by 2019
Staycity's new Birmingham property is part of its plan to reach 5,000 apartments in Europe by 2019
Serviced apartment operator Staycity has signed a £17m deal to build a block of 170 apartments in Birmingham’s Jewellery Quarter.

The Dublin-based operator hopes to open the property, which will include one- and two-bedroom apartments with a 24-hour reception service, in May next year.

The new apartments will add to the company’s Birmingham portfolio, which already consists of 82 apartments in the Arcadian centre, near New Street Station.

“We are delighted to announce this deal, which is an important part of our European expansion strategy. Birmingham is one of the most important business and leisure centres outside London,” said Staycity chief executive Tom Walsh.

“This property will give us a stronger foothold in the city as the demand for serviced apartments grows.”

Staycity expansion

Staycity has ambitious expansion plans, and hopes to expand its European portfolio of apartments from 1,000 to 5,000 over the next five years.

It will open a further 161 apartments across two buildings in Greenwich, London later this month.

Earlier this year, the company launched a $50,000 TV campaign​ on Sky’s entertainment, news, documentary, sports and music channels.

The advert – which is the first for the UK serviced apartment sector – highlighted the benefits of serviced apartments, which have the same amenities as many modern hotels but with more space and flexibility.

Staycity also recently made three senior appointments. Former Accor chief operating officer Michael Flaxman recently joined the company's board as a non-executive director and former Premier Inn operations manager Keith Freeman was appointed as chief operating officer, while former Irelandia investment officer Anthony Carragher joined as chief commercial & development officer. 

“Recruiting high calibre, experienced hospitality professionals is a vital part of our strategy and will help us in our aim to develop and expand. I admire Premier Inn for its award-winning customer service and am delighted to welcome Keith on board to drive our own customer service to new highs,” commented Walsh.

Serviced apartment surge

The growth of the UK serviced apartment sector continues to gather pace. Earlier this week, City Marque secured a £2.1m investment​ from Santander to build at least 550 new serviced apartments in London over the next three years.

Aparthotel Adagio also signed a deal to build a new 146-bedroom property in Edinburgh, due to open at the end of 2017.

According to industry estimations, serviced apartments now make up at least five per cent of total UK hotel sales​, and the sector is set to grow rapidly over the next five years, with London leading European expansion​.

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