Manchester property management firm powers ahead with £400k investment

Property management business urbanbubble has netted a six-figure investment as it looks to create over 100 jobs.

The £400k funding from NPIF – FW Capital Debt Finance, part of the Northern Powerhouse Investment Fund (NPIF), will support the Manchester-based company’s expansion plans.

urbanbubble was founded in 2008 by its managing director, Michael Howard. It now manages 8,000 properties across 90 residential schemes, primarily in Manchester and Liverpool.

The firm recently secured a key contract with financial services giant Legal & General to support the growth of its Build to Rent residential portfolio. The deal, urbanbubble said, will expand its operations outside the North West for the first time.

urbanbubble’s turnover passed the £3m mark in 2017 and the company is on track to generate around £4m in sales this year.

Headcount is forecast to rise from 120 to 250 over the next two years.

urbanbubble founder and MD Michael Howard said: “The funding from FW Capital will be used to invest in people, systems and processes to ensure that strong operational structures are in place to support this next phase of development.

“We’re really pleased to have received investment from the Northern Powerhouse Investment Fund with FW Capital providing a quick and efficient service.”

Adam Husband, investment executive at FW Capital, commented: “urbanbubble have worked very hard to build strong strategic relationships with some of the biggest names in the real estate market.

“Michael’s commercial acumen has been demonstrated by the growth of the business to date and he has built a really strong management team around him. This investment will support significant job creation and growth for the business and the region.”