Leading serviced apartment operator Staycity has signed a £17m deal giving the fast-expanding company 170 further apartments in Birmingham.The property, due to open in May 2015, will consist of one- and two-bedroom apartments in the city’s historic Jewellery Quarter.
Dublin-based Staycity currently operates 82 apartments in Birmingham’s Arcadian centre, near New Street Station.
Said CEO Tom Walsh: “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. This property will give us a stronger foothold in the city as the demand for serviced apartments grows.”
Staycity has over 1,000 apartments across eight European cities including Dublin, Edinburgh, Liverpool, London Heathrow, Manchester, Paris and Amsterdam. The company is aiming to expand its operations to 5,000 apartments over the next five years.
Staycity serviced apartments typically accommodate from two to six people. The apartments have fully equipped kitchens with dining room/lounge and bathroom. All have 24-hour reception service.
Later this month the company will open 161 purpose-built apartments across two properties in Greenwich, London, with further new apartments to open in Venice and Lyon, France.
Staycity recently appointed former Accor chief operating officer Michael Flaxman as a non-executive director.
