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|BridgeStreet Worldwide to Manage New Luxury Apartments in London
|Tuesday, January 22, 2008
|LONDON, UK - BridgeStreet Worldwide, a leading international provider of serviced apartments, has been awarded a 10-year management contract by City Land Investments for Atelier Apartments in London. The newly constructed building features a total of 24 studios, one- and two-bedroom apartments located in London's jewellery quarter in Hatton Gardens.
Atelier Apartments by BridgeStreet Worldwide, which is scheduled to open in May, will accommodate short-term and long-term guests by offering fully equipped serviced apartments on a daily, weekly, or monthly basis. The building, -- situated in the heart of Hatton Gardens, is opposite the well known Bleeding Heart Restaurant and within a 2 minute walk of Farringdon and Chancery Lane tube stations.
"We are thrilled to manage this prime property for City Land Investments and we look forward to developing a mutually beneficial, long-term relationship with them," said Stephen Hanton, managing director EMEA and chief operating officer of BridgeStreet Worldwide. "Serviced apartments are becoming an increasingly popular, cost-effective accommodation choice in London and throughout the UK and Europe. We are continuously seeking management opportunities to keep up with the inventory demands of our clients."
"We looked at a number of operators, but none had BridgeStreet's proven track record and level of expertise in this market," said Jonathon Paull, of City Land Investments. "We are confident in our choice of BridgeStreet's management team, as they will continuously evaluate the performance of the property to maximize its profitability and yield."
"Our management model is designed to suit the investment market objectives of maximizing our property owners and investors annual return and focusing on adding value to the annual asset growth" said Max Thorne, BridgeStreet Worldwide's vice president of development EMEA. "Our proven strategy of yield management will offer greater returns while increasing the property's value through superior product management.
BridgeStreet Worldwide is a leading international provider of serviced apartments. BridgeStreet
and its Global Alliance Partners offer over 15,000 serviced apartments located throughout the United States and 50 cities internationally. An award winner both in the U.S. and Europe, BridgeStreet properties meet uncompromising standards of quality, comfort and service. For more information about the company or to learn more about how BridgeStreet is Making Serviced Apartments Easy, visit
www.bridgestreet.co.uk or call +44 (0) 20 7792 2222.