European aparthotel operator Staycity Group has secured three new development sites in London to expand the portfolio of its Staycity and Wilde brands.
The rapidly growing company is set to add three additional properties in the UK capital after acquiring development sites in Stratford, Blackfriars and Vauxhall. These have been funded by a combination of Staycity equity and debt provided by Oaknorth Bank, the company said.
The Stratford site is slated to be house a 249-room Staycity property, while locations in Vauxhall and Blackfriars will see the development of Wilde-branded properties with 175 and 220 rooms, respectively, increasing the group’s overall footprint in London to eight properties. All three new properties will be open by summer 2025.
The group this week also announced the return of Andrew Fowler, the company’s former acquisitions director, in a new capacity as chief development officer.
Commenting on his return, Andrew Fowler said he will focus on driving further expansion through development and leasing, with a goal to double the group’s current footprint to 20,000 apartments in the next five years.
Staycity Group currently operates more than 10,000 apartments across Ireland, the UK, Italy, France and Germany and said it is also expanding its acquisitions team in Iberia, Italy and the Nordics.
CEO and co-founder Tom Walsh added: “We have great momentum at Staycity Group and I am delighted to welcome Andrew back, who I know will be a key part of our growth strategy.”