Member Article

Leading furniture specialist increases revenue by 30%

LOFT, one of the UK’s fastest growing furniture design and supply companies, has announced a 30% revenue growth , and revealed ambitious expansion plans for the future.

The business’s record growth levels have been driven by a strategic focus on further growing its build-to-rent (BTR) sector offer, diversifying the brand’s interior design function, and progressing its long-term vision for growth across the UK.

In FY19/20 LOFT saw a 48% year-on-year increase in BTR contracts, accounting for 40% of the business’s overall growth. Just one of the key large-scale projects is Chapel Wharf – Manchester’s largest BTR development – which comprises of 995 luxury apartments.

This strong performance reflects the property market’s increased investment in build-to-rent developments, with new insights from the British Property Federation showing a 12 per cent jump in BTR homes complete, under construction or in planning across the UK in 2020, when compared to the first quarter in 2019[1].

Ben Hall, LOFT’s Managing Director, commented: “Our strategy to expand into build-to-rent projects and growing our design offering has had a significant impact on our business, and our re-investment into our offering has begun reaping rewards. But we’re not stopping there.

“The economic and social environment, coupled with a desire for flexible living set-ups and fit-for-purpose design, means that renting will continue to be an important option for many and a significant growth area in property.”

LOFT has also adapted its business to the fast-moving build-to-rent trends, expanding its interior design team by 300% and recruiting big hires from the rental design community in both Manchester and London, including Lauren Maylor and Nicola McEwan. The design team’s philosophy is built on a deep understanding of modern rental lifestyles – including co-living – and adapting spaces to prioritise wellbeing.

“We deliver value to property through service and design, and we have heavily invested in the last three years to support our clients’ build-to-rent projects, making huge strides to expand our design department, providing an even greater range of quality furniture and investing in technology for maintenance. Now, we’re ready for the next phase in our development.”

The business growth follows significant investment in the business’s infrastructure and systems, and a number of key hires across the UK.

Established in 2003, LOFT has 17 years’ proven track record of providing end-to-end design, supply and maintenance services for developments nationwide.

This was posted in Bdaily's Members' News section by Contributor .