Business

Belfast serviced apartment provider expanding Liverpool portfolio in £2.6m investment

Dream Apartments has announced plans to launch nine new penthouse apartments in the Water Street Complex in Liverpool

ONE of the north's leading serviced apartment providers is adding to its growing portfolio with a £2.6 million investment.

Dream Apartments, owned and operated by Belfast businessman, Tom Smyth, has announced plans to launch nine penthouse apartments in the Water Street Complex in Liverpool. It adds to the provider's existing 50 apartments in the same development and 109 in the city.

Dream Apartments is one of the fastest growing serviced accommodation suppliers in the UK, with over 300 properties worldwide.

The business operates 127 serviced apartments in Belfast, with a further 30 to open within the Sanford development on the Queen’s Bridge in the coming months.

Mr Smyth said the latest expansion is part of an exciting year for the company.

“2019 is going to be absolutely fantastic for the business and an increase in the demand for luxury, high-end serviced apartments has allowed us to grow our offering both in Liverpool at the Water Street development, in one of the UK’s leading business destinations, and indeed closer to home in Belfast. Our initial 50 apartments within the complex are operating at an extremely high occupancy rate, thus our decision to increase the offering.”

"The serviced apartment industry is such a growth area not only in Belfast and Liverpool, but on a global-scale, and one which we are delighted to service. We have further plans for growth for 2019 and beyond.

“We are also in the planning stages of a major project set to launch in 2021 in the Baltic Triangle in Liverpool which will be our biggest project to date," he added.

In addition to properties in Belfast and Liverpool Dream has apartments in Newcastle, Paris, Barcelona, Amsterdam and São Paulo, Brazil and employs over 70 people across the UK.

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