1 December 2005
Urban Logic finalised its 500th sale earlier this month, sailing past its forecast mid-year target of 300. The off-plan property investment specialist has recently announced flotation plans for later in the year and the company is on track to treble profitability to £740,000 during its current financial year.
The company has doubled its team in the last six months to 12 people with several key appointments including Craig France as business development manager who boasts a strong estate agency background.
In the New Year the team will move to Parsonage Chambers, a central Manchester City location with over 4,000 square feet of floor space to accommodate the rapidly expanding team.
Launched in November 2003, Urban Logic has since developed exclusive relationships with a number of the UK’s leading housebuilders, enabling it to offer its clients genuine discounts of at least 15 per cent on a range of properties at prime sites across the north of England and Scotland.
Operations director, Guy Davis comments on the company’s sales success: “We have achieved more than any of us anticipated at this stage in the year. I think it will also come as a surprise to market commentators who have talked about the market hardening and a general slowing down in sales. Much of our success can be attributed to the due diligence we apply to all of our developments. We work hard to identify hotspots and refuse to move into what are over-saturated markets such as Manchester City Centre.
“Specific parts of Lancashire, Merseyside, Yorkshire and Scotland currently have the most potential for those looking for a healthy return on investment and we have sourced some of the most promising developments on the market and negotiated the best deals. Because of this, our clients return to us again and again when looking to extend their property portfolios.”
Earlier this year the directors sold 15 per cent of Urban Logic to AIM-listed property expert Nadlan plc valuing the company at £3.5m and the company was short listed for a number of prestigious awards.
For further information on Urban Logic, please visit http:// www.urbanlogic.co.uk
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