Saxbury secures operator for AA London Five serviced apartments

Saxbury is pleased to announce the letting of a complex comprising of 41 studios, one and two-bedroom apartments

On behalf of AA London Five Ltd, Saxbury can announce the recent letting of 14 Lovat Lane EC3R, a complex of newly renovated apartments that are now available for short-term lets.

After a rigorous bidding process, AA London Five selected City Apartments Ltd, an established operator with over 225 serviced apartments across nine properties in London’s Square Mile, to operate 14 Lovat Lane. City Apartments will work with Synergy Global Housing, a renowned industry colleague, in an innovative partnership that allows them to share the building equally.

According to Jono Dennis, Director of City Apartments, securing a long lease on Lovat House, an impressive C1 building located in the heart of The City, was an opportunity that couldn't be missed. The negotiation process took some time, but they now have a 20-year lease to offer their clients an ideal new home. With over 225 apartments for its City-based clients, City Apartments Ltd is now the largest operator in The City.

Jono Dennis added that during the negotiations, both parties recognized a shared interest in a risk-sharing model, which led to a collaboration agreement with Synergy. As a result, Synergy has access to half the apartments, while City Apartments will operate and manage the entire building. This collaboration marks the coming together of two great companies and is a win-win for both parties.

Director of Saxbury Ben Davis expressed his client’s satisfaction in securing City Apartments, one of London's oldest and most reputable operators, for this high-profile address overlooking The Monument. He believes that City Apartments’ 20-year commitment signals an unwavering belief in the future prospects of the serviced apartment sector in London. Saxbury represents serviced apartment landlords and investors across the UK, providing them with lease advisory, operator search and selection, development consulting, structured finance solutions and investment sales.

Source: Serviced Apartment News