Pro-invest Group, a leading real estate asset manager, hotel operator, and investment firm, announces its strategic expansion into the flex-living sector, leveraging the Group’s expertise in hospitality to provide a solution to those looking for fuss-free accommodation on their own terms.

The key to flex living is its adaptability, catering to those who need to relocate regularly for work or travel and who refuse to be locked into long-term commitments.

For Gen Z and Millennials, who don’t like to be tied down, it offers the perfect blend of freedom and flexibility, while also appealing to expats, business travellers, digital nomads, and others.

Pro-invest’s fully integrated platform, which blends development, operations, and active asset management, will ensure that its flex-living projects are managed across the entire life cycle, creating significant value for investors, and making flex-living a distinctive proposition in the market.

Moreover, the Group’s roots in hospitality excellence provide a distinct advantage in developing flex-living because they are experts in guest-centric design and delivering outstanding guest experiences, from world-class restaurants and bars to house-keeping and concierge.

Having successfully introduced three international hotel brands into the Australian market, they know how to create welcoming environments where people want to stay.

Flex-living offers a fresh take on urban lifestyles, combining affordability, community, and convenience in a model that appeals to a broad demographic, from young professionals to digital nomads. It offers more than just a place to stay, but a community experience with shared spaces such as gyms, co-working areas, and communal areas, which cater to a rising number of people who value flexibility  and social interaction.

Pro-invest will bring its rich hospitality experience to the flex-living model to deliver world-class design and best-in-class services to guests.

Ronald Barrott, Founder and Chair of Pro-invest Group, said: “Our flex-living model will offer a variety of accommodation options, while fostering a sense of community through shared spaces and personalised services. The fundamentals of low vacancy, low supply, and changing lifestyle preferences are supporting a positive outlook, and we are perfectly poised to capitalise on this.”

Global Expertise, Local Services

Pro-invest Group sees flex living as sitting between a traditional hotel and the co-living model, catering to those seeking comfort, convenience and community. These fully furnished accommodations provide the ability to move from one place to the next easily, without being tied down.

Sabine Schaffer, Co-founder and CEO Europe, states “ We see flex-living as one of the fastest growing sub-segments of the multi-family sector as councils globally see the offering of smaller and more flexible accommodation solutions a way to take pressure off more people wanting to be in urban environments.

"In Europe specifically, co-living has been around for a couple of years and hence we already see a number of institutional parties allocating funds into the segment, but we see that in Australia a flex-living model is better suited. Given our team’s European expertise, we know ‘what works and what does not’ which is important when avoiding pitfalls given how nascent the segment is in Australia.”

Pro-invest’s extensive experience in global markets will serve as a key advantage as they bring these innovative accommodation solutions to the Australian market and adapt to local conditions.

Sustainable Living, Prime Locations, and Quality Design

Three themes will drive investment in flex-living: sustainability, prime locations, and quality design. Pro-invest has built a reputation as an industry leader on all three fronts, having developed a world-class hotel portfolio nationally.

They are also renowned for pushing the boundaries in hotel design and in converting assets in innovative and creative ways that prioritise the guest experience. Pro-invest will incorporate green technology, energy-efficient designs, and clever waste management to align each asset with broader environmental goals, while never sacrificing on aesthetics.

Tim Sherlock. Managing Director Pro-invest Developments said: “Similar to what our colleagues see in other international markets, we believe that flex-living has its role to play in the Australian landscape.

"Having successfully adapted international trends to the Australian market in the past, our team is well positioned to offer a systematic roll-out program in creating a shared space that connects people with community more strongly, is far more sustainable, and delivers significant cost savings, while providing greater returns for investors per square metre.”

Australia’s Emerging Flex-living Market

Australia is still relatively new to flex living, which means the timing is right for Pro-invest to expand its focus. Vacancy rates in major cities like Sydney and Melbourne are below 1%, and a mix of accommodation options is key to addressing this issue.

Pro-invest is targeting strategically locations in CBD and suburban areas, catering to a diverse range of guests seeking smaller, self-contained studio and one-bedroom accommodations.

Related reading

Pro-invest Group invest in Southern Cross scholarships for future hotel leaders

Pro-Invest Group Looks To 2024 - New Appointments to Drive Performance of Growing Hotel Portfolio

Pro-invest Group appoints Piyush Mehta deputy CFO

Pro-invest Group Partners with Shiji