Urban focused fibre optic broadband ISP Hyperoptic has reached a new agreement to install their 1Gbps capable “full fibre” (FTTP/B) network into 32 of Y&Y Management‘s large UK residential apartment buildings (usually equating to Multi-Dwelling Units with at least 50 units / flats each).
At present their ultrafast fibre network is said to cover more than 500,000 premises in parts of around 39 “Hyper Cities” (rising to 50 this year). On top of that they’re also in the process of investing £500m to expand their network to reach 2 million UK homes by the end of 2021 (here) and after that there’s an aspiration for 5 million premises by the end of 2024 (the latter will need more investment).
Meanwhile property asset management firm Y&Y Management is understood to look after a total of 300 residential blocks and over 20,000 individual homes, although today’s agreement only appears to reflect 32 of their blocks (likely to be those in areas where Hyperoptic’s network is nearby).
Joseph Gurvits, CEO of Y&Y Management, said:
“Our residents have chosen our blocks because of the quality of the properties. Flexible working, online streaming and connected homes are increasing residents’ demands for fast internet and this partnership enables us to provide this to our tenants. Managing high end properties is not just focusing on the quality of the building but also additional conveniences for tenants.”
Floyd Widener, MD of Sales at Hyperoptic, said:
“Hyperoptic was founded with one mission – to lead a step-change in broadband and Gigabit Britain. Partnerships are key to enable this, and we are very pleased to be working with Y&Y Management to deliver the UK’s fastest broadband across its portfolio. We are confident that residents will be delighted once they move to our service.”
Hyperoptic traditionally focuses on big urban residential buildings because they’re significantly more cost effective to connect. However there are tentative plans for the ISP to start targeting smaller blocks, housing and businesses over the next couple of years.