Staycity appoints chief development officer as it secures 3 new sites

Staycity Group has announced it has secured three sites in London via a new stand-alone development platform Carnsór and has appointed Andrew Fowler as chief development officer to lead it.

Fowler was most recently co-founder and group acquisitions director at Locke and Edyn, the fully integrated extended stay platform, and has a long history of development experience. He previously worked at Staycity in 2007 – 2012 as acquisitions director.

As group acquisitions director at Edyn, he led the group’s expansion across both Europe and the UK, navigating a complex, multi-jurisdictional landscape to deliver ground-breaking properties for both Locke and Cove.

The group said Carnsór’s role is to source and manage the development of sites with an exclusive focus on expanding the Staycity and Wilde brands. Initially, it will target the acquisition of two-three developments per annum, funded by group equity, and external investment.

Staycity has acquired three assets in Stratford, Blackfriars and Vauxhall, as well as a further two development deals in exclusivity. Stratford will be a Staycity location with 249 keys, while Vauxhall and Blackfriars will be part of its Wilde brand, with 175 and 220 keys. These have been funded by a combination of Staycity equity and debt provided by Oaknorth Bank.

Fowler said: “I am thrilled to return to Staycity Group in a new capacity, with the overall goal to double the current growth rate. Staycity has become the fastest growing aparthotel company in Europe, and with this new development platform Carnsór, we’ll look to drive further growth in the group across development and leasing. We are really excited to see what we will achieve in the coming years.”