Next stage of development for Livingbase
The transfer of the 35 luxury apartments strengthens SACO’s presence in the city market and enables Argent, developers and asset managers of Brindleyplace, to focus on its activities at the estate including the development of Eleven Brindleyplace together with the £2million refurbishment of Paradise Forum.
Ian Clark, from Argent, said: “The market for serviced apartments was relatively unproven when we launched Livingbase in 2003 and since then a number of new operators have established themselves. The market has now begun to mature and as it does, we feel that the future success of Livingbase is reliant on being part of a wider apartment network.
“From a standing start, Livingbase has been a great success for Argent – our occupancy levels average at 80 per cent and rising – however, the timing is right to allow for its future expansion by a high quality service provider.”
Launched four years ago, Livingbase comprises studio, one and two bedroom luxury apartments and spectacular double height duplexes. The apartments are located on the top floors of Eight Brindleyplace, boasting excellent views across the city centre and beyond.
Lesley Freed, Chief Executive of SACO, added: “We have had a presence in Birmingham for some years as we already operate a luxury apartment scheme located on Hagley Road, Edgbaston, but the opportunity to run the Livingbase apartments, in the heart of the city, was not one to be overlooked. “