Weekly News Roundup – 12/04/24
A roundup of the week’s top property and proptech news stories in partnership with Proptech-X
Table of Contents
The Property Franchise Group partners with Coadjute
I know, yet another piece about one of my clients, but again it is big news and speaking personally great news, as estate agency is still unfortunately until now in the foothills with how it is going to digitally transform its operations. At last we are seeing the clear routemap emerging that will help every single stakeholder who does property, to do it faster, better more efficently and with greater insight.
‘The Property Franchise Group (TPFG) has announced today that at the conclusion of a successful pilot they will be expanding their use of the network with the view to start rolling out nationally with Coadjute, the London-based property technology business. TPFG, the largest franchise estate agency group in the UK, has been piloting the solution across 12 of their branches over the last five months.
The rollout will include Coadjute’s digital property data pack capability and smart forms which are designed to help agents meet the latest National Trading Standards Estate and Letting Agency Team (NTSELAT) guidance. Coadjute’s digital data solutions enable estate agents to access a range of data sources at the press of a button. Once the relevant data is sourced, it can then be transposed instantly to a range of property forms including PIQ, BASPI or TA6 and shared with the seller and conveyancer.
Over the past five months of the pilot, the solutions have saved the participating TPFG branches 25 minutes per transaction on average, which equates to around 39 working days. TPFG sees it as a key tool in helping their network and consumers speed up transaction times and cut fall-through rates.
Leasecake receives $10M to further serve real estate and location management operations for multi-unit operators
Leasecake, a pioneer in lease and location management solutions tailored for multi-unit operators, today announced the closure of a $10 million Series A extension round. This significant infusion of capital, led by PeakSpan Capital and Las Olas Venture Capital with additional support from a venture debt facility provided by Silicon Valley Bank, a division of First Citizens Bank.
And is a testament to Leasecake’s unwavering dedication to simplifying and safeguarding the complex real estate and location management operations for franchise and corporate entities. In an era where the operational landscape for multi-unit restaurants and service-based retailers is fraught with complexity and heightened risk, Leasecake’s innovative AI-driven platform offers much-needed peace of mind.
“In today’s fast-paced business environment, multi-unit operators face unprecedented challenges. The last thing they need is the stress of overlooked lease and contractual obligations, which could have dire consequences,” said Scott Williamson, CEO of Leasecake. “Our cutting-edge technology not only alleviates these concerns but also empowers our clients to concentrate on expansion. We’re invigorated by our investors’ confidence in our vision and their continued support of our journey.”
This new round of funding will enable further refinements to Leasecake’s platform, ensuring it meets the evolving demands of multi-unit operators. Additionally, it will support the expansion of the company’s offerings to accommodate its growing customer base. Over the last year, it has seen remarkable user growth, doubling the number of platform users, which now spans thousands of brands and tens of thousands of locations throughout the United States and Canada.
Gravity Co launches 6th property in Notting Hill, London
Gravity Co, the London based leader in co-living and PRS brands dedicated to fostering community, flexibility, wellbeing and professional growth is thrilled to announce the launch of its 6th property in the vibrant district of Notting Hill, London. Located just a short walk from Notting Hill Gate, this four-story Victorian house boasts 19 freshly renovated, fully furnished studio and one-bedroom apartments, set to open this spring.
Surrounded by Notting Hill’s culture and vibrancy, this latest edition to the Gravity Co portfolio promises to offer a true urban living experience tailored to meet the needs of London professionals with busy schedules. Located close to Paddington, Notting Hill and Royal Oak Stations, residents will find themselves in a prime spot to access the capital’s bustling transport network with ease.
Taking design influences from the local area, the property is filled with character, embracing both the charm of nearby Portobello Road and the laid-back vibes of Little Venice. Just moments from the hustle and bustle of Portobello Road’s famous market, buzzy eating spots and quirky entertainment hangouts, residents can also escape to more peaceful parts of the capital, taking in the calm that’s offered by the canals of Little Venice and green spaces of nearby Hyde and Holland Parks.
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