Parklane Group has recorded an 11% increase in turnover on the back of Roomzzz Aparthotel openings in Chester and Nottingham, coupled with a continuing strong performance in the student and professional rental sector.
The Group has revalued owned properties to reflect the current market value, this has seen properties held increase in value to £114m. The Group’s net assets now total £43m as of 30 September 2015, an increase of £27m.
The Parklane Group has been building its business portfolio for over 35 years, being one of the largest private landlords in the Leeds rental market with professional and student property brands, including Parklane Properties, RentInc, Leeds Golf Centre and Roomzzz Aparthotels.
2015 saw the successful launch of the award-winning IconInc brand which is managed by Parklane Properties. A £15m development called ‘The Edge’, which brought luxury student living to Leeds for the first time opening its doors in September 2015. The brand hit the headlines for offering ‘7 star student accommodation’, a phrase coined by The Daily Mail, Telegraph, London Evening Standard and numerous industry and regional press outlets.
The Company is now expanding its offering of high-end student living with two new IconInc developments due to open in September 2017. The Glassworks, IconInc’s second development in Leeds, is valued at £19m and features 154 luxury apartments. Expanding across the North, IconInc will open a new development in the Rope Walk district of Liverpool, The Ascent, a 12 storey high development valued at £24m, including 192 luxury self-catering apartments.
The Roomzzz Aparthotel portfolio also expanded into Chester and Nottingham in 2015 following the success of their existing Aparthotels in Leeds, Manchester and Newcastle. This year will see the Group invest in five new Roomzzz locations throughout the country, including the first Roomzzz to open in London.
Managing Director of Parklane Properties, Naveen Ahmed, said: “2015 was a very big year for the Group with the launch of IconInc and the growth of our Roomzzz offering. We’ve made the decision to re-invest over £35m across our brands in the last year and we intend to continue this ongoing re-investment including supporting our latest venture with the Broadley Group (a Leeds based building maintenance and construction company), with the aim of going above and beyond our success in 2015 whilst continuing to meet the opportunities of growing the business in the coming years.”