Leeds startup hits £1.5m annual turnover in its third year

Since its launch in August 2020, Leeds-based property investment start-up, CityRise, founded by Sam Morrell and Reuben Swinfield, has experienced a 150% percent year on year growth, despite turbulent times for the property market amidst the cost of living crisis.

The 19 strong team at CityRise, based on Britannia street in the heart of Leeds’ financial quarter, works closely with developers across the UK to advise on sound, salable construction projects, whilst helping property investors secure the best possible return when choosing to invest in the property market.

The founding duo, both 30, launched their buying, selling and management services business when Reuben, who had previously worked in the property industry, collaborated with Sam, who has a background in law, to come up with a unique business model to bring clarity and ease to the otherwise unpredictable world of property development and investment.

As such, the team at CityRise take a very different approach to their relationship with the developers they work with, who are predominantly based in the northern powerhouse regions of Leeds, Manchester, Liverpool and Hull.

Instead of embarking on a relationship once the construction has taken place, CityRise works as trusted advisors on everything from land purchases and planning, through to detailed exit appraisals, ensuring developers are able to maximise their GDV.

The team dovetails its expertise in development planning withits in-depth understanding of what investors are seeking. CityRise has extensive experience consulting with first time buyers and established property investors, providing a full turnkey solution, including selling, lettings and management of the properties it manages for landlord clients.

Sam and Reuben’s people-first ethos has earned them a trusted reputation in the industry, seeing the firm selling upwards of 500 units to over 300 investors in its initial three years.

Sam comments: “The cost of living crisis has had a significant impact on the property market, but it remains a lucrative proposition for both developers and investors when approached with the right strategy in place. I believe our recent success is 100% down to our detailed approach and industry knowledge, helping developers make informed decisions when deciding what and where to build.”

Reuben adds: “On the other side of the coin, we have a proven track record of working closely with investors to help them secure strong, long term investments that will withstand the inevitable peaks and troughs of the property market.

“We combine our knowledge of the market with real time data to provide reassurance and confidence, and that comes down to understanding any fears and desires our investors may have. So far, this has stood us in good stead, and we intend to maintain our tailored, personable approach as the business goes from strength to strength.”

Over the next year, Sam and Reuben aim to hit £2.4m turnover, and plan to grow the business with a careful eye on other areas of the property investment sector. Ultimately, their overarching goal is to continue to run a business that serves as a refreshing break from property industry norms.

By Mark Adair – Correspondent, Bdaily

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