“In the middle of difficulty lies opportunity”
We always aim to find positives amongst negatives. In the current global health crisis, we understand that many businesses go through a very rough patch. We have been fortunate enough, that we have always maintained a strategy that creates enough cash reserves. On top of that, we also target groups of people that always need a place to stay whether for work or relocation.
That the serviced accommodation strategy has taken a hit, is undeniable. Many investors are selling their units, while others won’t even touch it. However, with the supply of SA units going down, the demand is still there and rising. This strategy will only work if you’re able to think outside of the box.
Our units have been at 100% occupancy for the majority of 2020. COVID did impact our occupancy at the very beginning but shifted gears soon enough. Our goal has always been to provide high-quality accommodations in locations with a high percentage of vital workers. Whilst also having access to regular hospitality clients on the weekends. The team at StayBC, have done an excellent job, in navigating through this crisis. There are a lot of opportunities and today we highlight, the first two units we’ve taken on during the crisis.
Serviced Accommodation Unit in Newport
Our investors know, that Newport is our hotspot for investments. We’ve taken on flips, buy to lets and SA’s units in this city on the rise. Like always, our criteria determine where we take on a unit. The unit in Newport is close to the M4 for our business clients.
18 Orchard Gardens is a lovely 4-bed house, near the city center. It lends itself perfectly for contractors, nurses working at the Royal Gwent Hospital, but also families on leisure trips. The short distance to the M4 makes it ideal for people who are working in Newport.
Our goal is to acquire at least 3 more units in Newport before the summer. After analyzing the market, we see a massive opportunity for SA after the lockdown ends. By that time our units will be up to speed to receive business and leisure clients.
The keys have been collected on the 11th day of May 2020. After some minor improvements we have set the launch date at the 25th of May. Keep an eye out for our social media to see the before and after.
18 Orchard Gardens
1 Great Bedford Street
2-bed Serviced Accommodation in Bath
The expansion to Bath is a new direction for Promagem. The first unit is a perfectly situated two-bed apartment. Bath is among the most visited cities in the UK for tourists. The historic city center and bustling business opportunities make it fit our criteria perfectly.
1 Great Bedford Street is a perfectly situated 2-bedroom apartment that provides excellent accommodation for contractors working on the revitalization of Bath. Nurses working in the hospital at a 5-minute walk, will also enjoy the unit. But more importantly an excellent base of operations for tourists that are exploring the historic center of Bath.
Our goal is to acquire 2 more units in Bath before the beginning of the summer. The opportunity for this unit will be all year round. After the easing of the lockdown, UK citizens will want to travel nationally. Contractors, who are behind on their schedule, want to pick up on the revitalization.
The keys for the unit will be collected on the 1st of June.
Both units will be managed by our trusted partner StayBC.
Our goal has and will always be to provide investors with secure investment and returns. We have opportunities for everyday investors, but also the high profile investors.
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