Ascend grows revenue By 67% year-on-year and hires 80
The past 15 months has been a trying time indeed, yet one property business, in particular, has grown revenues significantly in that time and has hired dozens of staff.
Not to gloss over the wider clinical impact of the pandemic of course, but this is a press release that celebrates the entrepreneurial spirit of a certain business and its founders despite the health and economic crisis – a rare strand of positivity amongst much bad news elsewhere.
Ascend Properties is a build-to-rent portfolio manager that oversees a growing number of properties for its build-to-rent investor clients – over 10,000 units now.
Founders Ged Mcpartlin and David Giovanni have spent the past months building the Ascend business through investment in marketing, technology and its people and have seen an increase in revenue in the last six months of 67% as turnover has grown from £3.9m to £6.5m, smashing their internal targets.
Importantly in such an uncertain economic environment currently, they are most proud that in that time they have also created over 80 new jobs. Additionally, the duo has injected over £500,000 into technology development and innovation.
“Despite the pandemic, we’ve doubled down on our people and technology and have further invested in the Ascend business,” says managing director Ged Mcpartlin.
“It’s been a tough time for everyone over the previous 18 months, yet we know that we have a solid business that has grown and grown despite global uncertainty. Demand for the build-to-rent sector is increasing all the time with over £1.2b invested in Q1 this year alone – the highest first quarter of the year numbers on record.
Accordingly, we are very confident in the sector and in continuing our investment and know that this will reap dividends for the entire Ascend team and our customers going forward” he adds.