Loc8me reaches 20-city milestone with Mighty acquisition

Loca8me continues its nationwide growth with the acquisition of more than 1,100 student beds in Lancashire, expanding its presence to 20 cities.

All 19 team members from the recently acquired Mighty Student Living will join loc8me, with founder Peter Charnley staying involved to support the transition.

Raffaele Russo, founder of loc8me, said the deal was a significant step in the company’s growth and backed the long-term future of student HMOs.

He said: “Twenty cities feels like a real landmark for Loc8me. When we started the business in Loughborough in 2008, the ambition was to build something that really understood student housing and could eventually take that expertise into university cities across the country.

“What makes reaching that milestone particularly exciting is that we aren’t starting from scratch in Lancaster. Mighty Student Living has already built a fantastic business with strong relationships and a significant presence in the city.”

Making mighty steps

Mighty Student Living has grown into one of Lancaster’s largest student lettings operators, managing more than 350 properties across the city and Galgate.

The sale follows discussions over the long-term future of the business, with Peter Charnley looking for a company that could take it forward while retaining the team and landlord relationships built in Lancaster.

He said: “Building Mighty Student Living has been a huge part of my life and I’m incredibly proud of the business we’ve created, but particularly of the people who have helped build it.

“When considering the future of the business, finding the right home for the team and our landlords was much more important to me than simply completing a deal.

“For our landlords and students, there will still be familiar people here in Lancaster looking after them. I’m excited to see what the team can now achieve with loc8me behind them and I’m confident this is the right next chapter for Mighty Student Living.”