Roomzzz parent company sees 11 per cent rise in sales

George Sell By George Sell
30 June 2016 | Updated 30 June 2016

UK: Leeds-based property business Parklane Group has recorded an 11 per cent increase in turnover, thanks to Roomzzz Aparthotel openings in Chester and Nottingham.

Group turnover at Parklane Properties rose to £12.7 million in the year to 30 September 2015, although operating profit decreased by 28.3 per cent to £2.5 million.

During the year, the group revalued owned properties to reflect the current market value, leading to an increase in value to £114 million. Net assets now total £43 million as of 30 September 2015, an increase of £27 million.

AS well as owning the Roomzzz brand, The Parklane Group is one of the largest private landlords in the Leeds rental market with professional and student property brands, including Parklane Properties, RentInc, IconInc and Leeds Golf Centre.

Naveen Ahmed, managing director of Parklane Properties, said: "2015 was a very big year for the group with the launch of IconInc and the growth of our Roomzzz offering. We've made the decision to reinvest over £35 million across our brands in the last year and we intend to continue this ongoing reinvestment including supporting our latest venture with the Broadley Group (a Leeds based building maintenance and construction company), with the aim of going above and beyond our success in 2015 whilst continuing to meet the opportunities of growing the business in the coming years."

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