STAYCITY BOOKS INTO LONDON’S COVENT GARDENPublish date: Thu 18 Sep, 2014
Leading serviced apartment operator Staycity has today announced the signing of a 35-year lease on a site in London’s prestigious Covent Garden, giving the company 106 studio apartments.
Staycity Covent Garden will open for business in December 2015 featuring a contemporary, luxury interior. The design will spearhead what will be the first of a deluxe Staycity brand planned for premium city centre locations.
The interior design will be handled by renowned Dublin-based Heneghan Peng Architects, whose previous commissions include the Grand Egyptian Museum in Egypt, the Giant’s Causeway Visitor Centre, and the School of Architecture in Greenwich, London.
Covent Garden is one of London’s most popular tourist areas attracting some 44 million* worldwide visitors every year to its markets, street theatres, up-market shops, Royal Opera House and vibrant restaurant and bar scene.
Said Staycity CEO Tom Walsh: “Covent Garden will be an exciting place for Staycity to operate. It’s a location surrounded by four- and five-star hotels so the aim is to give our guests the eye-catching, cutting-edge feel of a top-end hotel, while offering the fantastic value-for-money of a serviced apartment.
“Our existing London properties – Greenwich and Heathrow – are trading with very strong occupancies so we are confident Covent Garden will be hugely popular given its position in this bustling part of the capital.”
The Covent Garden deal follows the acquisition of the building on The Strand by LaSalle Investment Managers on behalf of Coal Pension Fund. The developer for the site will be Galliard.
Staycity has over 1,000 apartments across eight European cities including Birmingham, Dublin, Edinburgh, Liverpool, London Heathrow, London Greenwich, Manchester, Paris and Amsterdam. The company is on target to expand to 5,000 apartments over the next five years.
About Staycity Aparthotels
Staycity Aparthotels is a privately held company based in Dublin offering quality short-term and long-term apartment and aparthotel lettings in central city locations. These include Dublin (179 apartments), Edinburgh (146), Manchester (266), Liverpool (56), Birmingham (249), London Heathrow (269), London Greenwich (166),Paris (50), York (197), Marseille (108) and Lyon (144). With a total estate (pipeline and operating) totaling over 4,500 apartments the company is on target to achieve its stated aim of 15,000 apartments by 2022.
Staycity Aparthotels was founded in 2004 by Tom Walsh and his brother Ger, starting with a single apartment in Dublin’s Temple Bar, a former recording studio used by the likes of U2.
With an active European expansion plan Staycity has quickly established itself as one of the leading aparthotel operators. Projected annual turnover for 2017 is expected to reach €60m.
Staycity’s properties are made up of studios, one-bedroom and two-bedroom apartments offering 24-hour reception, fully equipped kitchens or kitchenettes, a dining area, sitting area and bathroom. Additional features include complimentary Wi-Fi access, flat-screen TV and guest laundry facilities as well as weekly housekeeping. Most sites have private car parking facilities and many offer a dry gym. All latest generation properties, such as London Heathrow, York, Birmingham Newhall Square, Lyon and Marseille have a guest lounge/café for breakfast, all day snacks and beverages.
In 2015 Staycity Aparthotels won the Industry Breakthrough Award at the Association of Serviced Apartment Providers (ASAP) Annual Awards as well as being inducted into the Tripadvisor Hall of Fame for its Dublin (Saint Augustine Street) and Birmingham (Arcadian Centre) locations for five consecutive years. In 2016 Staycity was highly commended in the Serviced Apartment Business of the Year Award Corporate category at the ASAP Awards while in 2017 Staycity Aparthotels York Paragon Street was a finalist at The Serviced Apartment News Awards under the Best Aparthotel category. The company also gained four nominations in the recent Serviced Apartment Industry Awards.