UK: JLL has appointed Sowgol Zarinchang to join its serviced apartment team in response to increased investor interest in the sector.
She joins from the Notting Hill Housing Trust where she was
director of private rent and student lets. During her 14 year
career at the trust she was also head of policy and formulated a
strategy and built up a team focused on student accommodation. Her
key achievements include managing an asset portfolio of over £500
million and over 1800 properties in 13 different local authorities.
She launched a brand named Folio London which is the Notting Hill
Housing Group private rented sector offering.
She joins JLL's serviced apartments and aparthotel team following the appointment of Max Thorne in March.
Max Thorne, managing director of JLL's serviced apartments team, said: "The serviced apartment sector is maturing and growing at a rapid pace. The sector now accounts for six per cent of total hotel investment volumes compared to just two per cent in 2011. As the sector sees more interest from investors due to better data, improved product awareness along with evolving consumer habits, there will be more crossover with the private rental sector. Sowgol's residential and PRS experience makes her the perfect candidate to join the team and help clients to navigate a changing and evolving sector."
JLL figures show that transaction volumes in the sector have increased by 146 per cent between 2011 and 2016. Over the next three years there are around 3,500 serviced apartments planned in the active pipeline, three times more than 3-star hotels.