An estate agency that started its life at a kitchen table in 1997 is now celebrating 20 years in business.
City living specialist Morgans has, over those two decades, sold more than 6,000 apartments and now manages the city centre’s largest residential rentals portfolio worth approximately £210m.
When Jonathan Morgan and Nigel Lenton founded Morgans two decades ago, there were only around 500 residents living in Leeds city centre; now there are some 11,000 as the urban centre living revolution took root in the city.
Morgans now employs a 50-strong team with an annual turnover of £2.5m and, as well as sales and lettings, has worked on the development teams building over 150 flats.
“When I started Morgans from my dining room table in 1997, I dare not imagine how both the business and the city living market would flourish. Whilst there have certainly been challenges over the years, including the downturn and Leeds being labelled the ‘empty flats capital of the north’ by badly-informed commentators, we have enjoyed consistent organic growth for a very long time” says Morgan.
“We have rented out more than 20,000 apartments in the last 20 years, and since 2012 we have maintained occupancy rates of more than 99 per cent as demand continues to outstrip supply” he adds.
The firm also has a dedicated corporate arm, dealing with businesses relocating staff to Leeds.
Morgans is also involved with charities including Leeds Community Foundation and St George’s Crypt, as well as supporting Leeds Mencap with donation days and Jonathan was a joint founder of the Crypt Factor, which has raised over £500,000 in 10 years.