Andreass Panayiotou,
Group Chairman CEO,
The Ability Group
The Ability Group was founded in 1996 by Andreas Panayiotou, who has led the Group as Chairman and CEO ever since. The son of Cypriot immigrants, Andreas was born in East London. His life took a dramatic turn when he decided to abandon a career in professional boxing, to help run his parents’ Launderettes. Soon after joining the business, Andreas put in place a strategy to move the company into Property Development and ‘The Ability Group’ was born.
Andreas saw the growth potential of the East London residential market.Using his knowledge of the area, focused on acquiring unwanted or dilapidated buildings. This often allowed the company to buy-and-build properties at between £100 and £200 per square foot. Today, finding properties in the same areas at under £900 per square foot, is a huge challenge. As the markets have grown so much over the years, mirrored by the growth of The Ability Group.
What started out as the conversion of small apartments in un-fashionable areas of London such as Islington,Hackney and Clerkenwell. Became a property empire that owned in excess of 7,000 residential units valued at over £1bn. Unlike the majority of developers, Andreas adopted a long-term strategy of retaining ownership of the properties he built, rather than simply, selling them at attractive prices. He thereby pioneered the concept of ‘Build to Let’ in the London residential market and built a strong and stable business that has gone from strength to strength.
Andreas decides to expand the group by diversifying its portfolio, to include Commercial property, such as Hotels, Offices and Retail properties. Whilst also widening its geographic scope, by acquiring seven Retail Centres throughout Europe. Thereby quickly establishing itself as a major player, within the Hospitality business.