Principle Wins Contract to Look after London New-Build Schemes
A major national freeholder has appointed Principle Estate Management to look after three separate new-build schemes it has acquired in London.
The developments include eight apartments at Mallory House in Sutton, nine apartments at 50 Croham Road in Croydon, and another nine apartments at 20 St Andrews Court in Earlsfield.
Principle has been instructed to look after all three properties by Pier Management Ltd, the management arm of RG Capital Partners Ltd, as the latest in a series of recent contracts with the company.
Ahead of the new commissions, Principle assisted all the individual developers on the three sites ahead of the freehold sales, which included planning and arranging lease structures, service charges and service contracts.
Principle has also fully reviewed compliance, operations and maintenance at all the developments, including fire and general risk assessments, as well as managing the completion of any snags.
Daniel Harrison, managing director of Pier Management, said: “It was great to get one of our preferred managing agents involved, as this allowed us to get any possible management issues dealt with ahead of our purchase of the developments. We have high standards for our property management as we take our responsibilities as freeholder very seriously. What’s important to us is that we know our instructions really matter to Principle, as they share our high standards for property management.”
Joe Jobson, a director at Principle, said: “We’re delighted to have been commissioned to look after three new-build sits for Pier Management. It was really useful to be involved in these developments ahead of the freehold sale to our clients, allowing us to ensure the schemes were set up correctly and in safe hands from the day of purchase. Building such a smooth relationship with a client and developer also ensures a quicker process for the sale of the freehold interest.”
Launched in 2018, Principle has since grown from what was virtually a one-man band into what is now more than 30 staff looking after a portfolio of around 7,000 units in 250-plus developments across the UK.