LONDON, UK / ACCESSWIRE / December 16, 2022 / Gravity Co, the UK-based co-living & PRS brand focused on personal and professional growth whose core USPs include flexibility, hassle-free and experience-led living closes 2022 as its most successful year to date following further growth in multiple areas of the business.
Just a month into 2022, the company began the year strong with the signing of its fifth property, located in the heart of one of the UK's most thriving tech hubs, Reading. Referred to as the UK's very own Silicon Valley, this historic market town has become a mecca for technology and is home to some of the world's largest tech brands: Oracle, Visa, and Huawei (to name but a few).
Launched in the spring, this newly developed property located in the town's most sought-after postcode (RG1) is home to fifty-three brand-new studio and one and two-bedroom apartments which collectively, achieved 100% occupancy in less than 8 weeks.
Introducing property #5 not only grew the brand's portfolio, but also its community which has now climbed to 500+ members including post-graduate students, young professionals, and aspiring entrepreneurs. Gravity Co's flexible, all-inclusive, community-focused offering has continued to see a surge in demand throughout 2022 with a 300% YoY increase in the number of direct applications received.
With five properties and a thriving community, Gravity Co has created strong brand awareness in the UK and in June, went on to secure worldwide industry recognition when the company was chosen as the ‘Operator of the Year' at the 2022 international Coliving Awards.
With over seventy entrants submitting projects from countries including Australia, the Philippines, Denmark and the US, the Operator of the Year award was unquestionably one of, if not the most sought-after of the ceremony.
With the team already pursuing international expansion opportunities, in September, Gravity Co successfully closed its series A, raising over £5M to take its in-demand branded living experience to mainland Europe, increasing its diverse range of flexible homes available to its members.
The amount of interest from investors towards the living sectors (PRS, coliving, PBSA) has rapidly increased with record numbers being broken in terms of capital being deployed. This surge in attention continues to support Gravity Co with their agile expansion plans and strategy; teaming up with some of the best-in-class PRS & co-living investors to build a strong brand, supported by its experienced team delivering exceptional operations and returns for stakeholders.
Gravity Co's core management team was also strengthened with Marta Sauri and Tom Whitley joining the real estate team as head of Spain/France and head of UK expansion respectively while Dale Schuss brought over 30 years of property and facility management experience to the operations team headed by Rob Birch.
Riccardo Tessaro, Co-Founder and CEO of Gravity Co ‘2022 has been an incredible year for Gravity Co. We have almost doubled the member base and ARR and the brand has gained international recognition. Strong interest from institutional real estate investors paired with favourable market conditions for the rental market, underpinned by high-interest rates, inflation, and demographic trends, are the perfect ingredients for Gravity Co to kick off its international expansion strategy in 2023.'
Susanna Rock, Co-Founder and CIO of Gravity Co continues to explain ‘We are immensely proud to see our brand continue to gain such positive traction and recognition. We are seeing some really positive end-of-year figures come through, from achieving a 90% YoY ARR growth to maintaining elevated levels of online customer satisfaction. In 2023, we are going to take Gravity Co international. We have a clear goal to launch 850 beds by the end of next year and have already started our Series B fundraising to help us achieve this objective.'
In 2023, in addition to international expansion, Gravity Co will also be launching their Social Membership, allowing non-live-in members to join the community and take full advantage of the great rewards and benefits on offer. Members of Gravity Co can also look forward to the launch of the first Gravity HUB, a co-working and events space that will be opening in London in 2023 followed by a rollout of the concept in all target cities globally.
For more information, please go to www.gravitycoliving.com
Media Contact:
Name: Craig McCormack
Email: [email protected]
Telephone: +447515 339221
SOURCE: Gravity Co Living