A furniture supplier has enjoyed 30 per cent revenue growth thanks to a boom in the build-to-rent sector.
Manchester-based Loft, which has been supplying furniture to property investors and landlords since 2003, said its recent growth has been driven by a “strategic focus” on growing its build-to-rent sector offer as well as diversifying the brand’s interior design function.
The company, which is aiming for growth across the 海角视频, saw a 48 per cent year-on-year increase in BTR contracts in 2019/20, accounting for 40 per cent of the business’ overall growth.
One of the key large-scale projects is Chapel Wharf – Manchester’s largest BTR development – which comprises of 995 luxury apartments.
The company said its performance reflects the growth of build-to-rent developments with insights from the British Property Federation showing a 12 per cent jump in BTR homes complete, under construction or in planning across the 海角视频 in 2020, when compared to the first quarter in 2019.
Ben Hall, LOFT’s managing director, said: “Our strategy to expand into build-to-rent projects and growing our design offering has had a significant impact on our business, and our re-investment into our offering has begun reaping rewards. But we’re not stopping there.
“The economic and social environment, coupled with a desire for flexible living set-ups and fit-for-purpose design, means that renting will continue to be an important option for many and a significant growth area in property.”
LOFT has also grown its interior design team and has recruited big hires from the rental design community in both Manchester and London, including Lauren Maylor and Nicola McEwan.
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“We deliver value to property through service and design, and we have heavily invested in the last three years to support our clients’ build-to-rent projects, making huge strides to expand our design department, providing an even greater range of quality furniture and investing in technology for maintenance.
"Now, we’re ready for the next phase in our development.”