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New Company Combines Utilities In One
An ambitious Newcastle company offering a groundbreaking utilities brokering and billing service has invested in city centre property as it prepares to launch.
UtilitiesIn1.com, which is run by young entrepreneurs Andie Stokoe, 21, and Salem Sinawi, 22, has moved into the new Lime Square Development in Ouseburn with the support of Tyne and Wear Development Company.
The unique web-based service – the only one of its kind – is aimed at students and young professionals living in multi-occupancy lets, brokering the best deals on electricity, water and gas and billing each tenant individually.
Unlike other utilities services, Utilitiesin1.com combines bills into single monthly direct debit payments for each individual tenant, ensuring they only pay their share of the utility costs for the property. Customers can track their spending online through itemised bills and receive a text or email reminder five days before each payment.
Several lettings agencies in Newcastle have already signed up for the service, which will be up and running for the start of the 2009-10 academic year.
Andie explains: “Nobody else offers a service like this combining all bills in one and dividing it between all tenants. It’s a unique model which saves tenants living in shared accommodation time, money and effort. It’s easy to register and is totally transparent, combining payments into one monthly fee and splitting the cost between each person.
“There’s no hassle dividing bills, carrying out metre readings or hunting for the best deals – we do all of that for the customer.
“For landlords and agents it’s a great management tool as well. It removes the threat of arrears or unpaid bills at the end of a tenancy. We collect the money so there’s no risk to them of CCJs from tenants disappearing and not paying their bills. We constructed the business from day one to be beautifully simple for our customers.”
UtlilitiesIn1.com is one of a portfolio of companies run by Andie and business partner Salem, which includes a promotion business specialising in student nights; a lifestyle magazine for young professionals and lettings agency, Central Residential.
The company has been supported by Tyne and Wear Development Company, the area’s leading business development agency, which helped to identify the new property in Ouseburn. The agency was able to secure the deal in a very short space of time, working closely with the Newcastle office of Storeys:ssp, the property agent for the Lime Square Development.
Salem added: “We understand the student market extremely well and UtilitiesIn1.com is a natural fit with our other businesses. There are around 60,000 students in the city and along with the young professional sector is a very attractive market. This is where our initial focus is but it’s a very scalable model. The web software we’ve developed is excellent and can easily be rolled-out to other cities and anyone paying utility bills.
“We wanted somewhere modern, attractive and with space to grow to reflect the ethos and ambition of the firm. We needed to move very quickly to secure the property and Tyne and Wear Development Company and Storeys:ssp were fantastic. Tyne and Wear Development Company showed us a portfolio of around 15 properties and we quickly narrowed that down to the one we wanted. It’s an excellent choice in a great area.”
Deborah Fletcher, information officer at Tyne and Wear Development Company, said: “This is an ambitious and forward thinking company and we’re delighted to help them. They needed to move quickly and we were able to find a property that they will be able to expand into as they grow.”
Lauren Young from Storeys:ssp, which is the agent for the Lime Street Development, said: "We are extremely pleased UtilitiesIn1.com chose Lime Square as their new headquarters. The development is perfect for them, offering a central base within easy reach of the city centre and surrounding residential areas. They will be a great addition to the current tenant mix. Given the current economic conditions it is extremely promising to be letting space to a new North East company"
For more information about investment opportunities in Tyne and Wear, please visit www.tyne-wear.co.uk or call 0191 516 9099.
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