The merger will see the creation of Trinity Chainbow, a company which will be servicing in the region of 40,000 home owners throughout England and Wales.
Trinity which was founded in 2000, has currently in excess of 35,000 units committed to management over 600 developments and has built an enviable reputation as one of the leading providers of block and surveying services. The company which employs 115 personnel is based in Hertfordshire and has also secured contracts promising an additional 10% growth in the coming year.
The block management industry has prevailed as one of the few sectors to survive and grow throughout the property downturn. With the newly announced Government initiatives to kick-start the housing market, Trinity Chainbow expects more opportunity to grow its portfolio especially within inner London.
‘Not only is London shortly going to benefit from a surge of new housing stock, particularly within Zones One and Two, but existing blocks that have been neglected are no longer putting up with bad management. This merger is opening an opportunity for both companies to pool our resources and cater to the growing number of blocks not only in the capital but throughout the nation who are looking for a better service,’ said Trinity Estates managing director Jonathan Smith.
Roger Southam who established Chainbow in 1989 added; ‘Since the beginning of the property downturn, we have seen more and more blocks change management to ensure they are getting value for money. Everyone is still feeling the pinch and what Chainbow and Trinity Estates have always delivered is transparency, accountability and regular communication with leaseholders, freeholders and tenants’.
‘This honest approach is what has facilitated the successful growth of both Trinity and Chainbow and going forward I see a lot of potential for Trinity Chainbow to increase its dominance in the block management sector,’ he added.
Smith and Southam believe that it is time the residential property management sector ‘grew up’ and become more professional. ‘Residential block management is about 10 years behind the commercial property management sector and we want to be the company that leads the way for a more proficient sector. Gone are the days when homeowners don’t pay attention to their bills. We are going to raise the bar and give residents the service and professionalism they deserve,’ they said.
