City living firm marks milestone with £210m portfolio
City living specialist Morgans has just celebrated its 20th anniversary, during which time it has sold more than 6,000 apartments and now manages Leeds city centre’s largest residential rentals portfolio worth around £210m.
Founded by Jonathan Morgan and Nigel Lenton in 1997, Morgans has built up a 50-strong team across city centre premises on Dock Street and in the centre of Headingley, with an annual turnover of £2.5m.
As well as offering property sales and lettings services, the company has also established a reputation for offering specialist advice to developers, and has worked as part of the development team on more than 150 new apartment schemes.
Morgan said: “When I started Morgans from my dining room table in 1997, I dare not imagine how both the business and the city living market in Leeds would flourish. Whilst there have certainly been challenges over the years, including the downturn and Leeds being labelled the ‘empty flats capital of the north’ by a handful of badly informed commentators, we have enjoyed consistent organic growth for a very long time.
“We have rented out more than 20,000 apartments in the last 20 years, and since 2012 we have maintained occupancy rates of more than 99%, as demand continues to outstrip supply. There’s no shortage of people wanting to live in the city centre as Leeds continues to secure international accolades; new retailers and high-profile restaurant operators are continually flocking into the city and the European Capital of Culture bid is certainly helping to put us on the map.
“We’re also seeing the next generation of apartment schemes beginning to take shape, many of which are being developed exclusively for the rentals market, which makes it a very exciting time for both the city centre and ourselves. We remain as ambitious as ever and we still feel like there’s so much more to achieve.”
