One-on-one interview with Harry Downes of Fizzy Living
This week, we talk to Harry Downes, the managing director of Fizzy Living, Thames Valley Housing’s pioneering rental initiative, which offers a viable long-term solution to providing high-quality homes for the private rental sector on a large scale.
Could you please tell us about your company? Fizzy Living is one of the pioneers in the field of private rented sector and operates with a portfolio of properties aimed at young professionals. It offers customers good-quality accommodation, in easily commutable locations, with a dedicated on-site manager and a management service that makes life simple.
In which areas do you currently operate? We focus on London and the South East. Launched in early 2012, Fizzy now has five sites in Canning Town, Epsom, Poplar, Stepney Green and Lewisham.
What are housing market conditions currently like in those areas? Strong, with plenty of demand but limited supply for good professionally managed rental property
Could you tell us what you have in the development pipeline and when these might be completed? We will have 136 apartments in Lewisham completing half end of this year and half end of next year. We also have a site which we are applying for planning on so that is further out. We have several schemes in the hands of the solicitors which will, all being well, come on line in the next two to four years.
How much does a typical flat by Fizzy typically cost to rent? Our one-bedroom flats average £1,250 per calendar month, two-bedrooms cost about £1,600 and three-bedrooms achieve in the region of £2,200.
What is Fizzy’s USP? We have an up-and-running portfolio of fabulous flats, each building run by Bob the Building Manager, with the happiest tenants in town.
What’s your property market prediction for the rest of 2015? Prices will continue to creep up until the supply of new homes is dramatically increased both for sale and rental.
Which of the developments Fizzy is currently developing do you think stands the best chance of winning a WhatHouse? Award? They all stand an even chance as they all have the same attributes.