Real estate firm secures contract for more than 4,000 homes
Principle Estate Management has won a property contract to look after more than 4,000 homes on Calthorpe Estate in Birmingham.
The new contract will expand Principle’s portfolio by over 30%, totalling more than 16,000 units and the need for three additional staff members.
Under Principle’s new contract, they will manage 1,063 long leasehold homes, as well as 103 rented homes ranging from six-bedroomed listed houses to modern build-to-rent apartment blocks.
Additionally, the contract includes the management of over 3,000 properties falling under Calthorpe Estates’ Scheme of Management agreements.
Brett Williams, joint managing director at Principle, said: “We are thrilled to have won this appointment to manage one of the UK’s most prestigious estates. Back in the 18th century, there were large houses on tree-lined roads with horses stabled in coach houses and large landscaped gardens next to fields and orchards. The careful stewardship of the Calthorpe Estate over the last 300 years means the area has retained the remarkable charm of earlier days.
“It is now one of Birmingham’s most desirable areas to live, with an attractive mix of old and new, with modern houses and apartments often standing next to large Victorian and Georgian properties. This garden suburb is only minutes from the centre of Birmingham and is an enormous asset to the city, which everyone at Principle is proud to be helping to look after for future generations.”
Joe Jobson, also joint managing director at Principle, said: “One of Principle’s main jobs will be overseeing and, when necessary, enforcing the Scheme of Management, established by an Act of Parliament for the wider benefit of all residents. It ensures residents abide by everything from not putting washing out on Sundays to making sure their homes are properly maintained and decorated.
“There are carefully planned restrictions on issues like management of trees and building maintenance, plus any alterations must be submitted for approval, which helps maintain Calthorpe Estate as a special place to live.”
As part of the new contract, Principle will take on three staff who used to work for the previous managing agent, including chartered surveyor Steve Richards, who has dealt with the scheme of management for 25 years, along with a property inspector and property assistant.
Lauren O’Brien, a lettings manager at Principle, will join the self-contained team, which will be overseen by Andrew Winstanley, a senior associate director at the company.
Winstanley has 25 years of experience in residential property management. He is an Associate of the Royal Institution of Chartered Surveyors and a Member of the Institute of Residential Property Management.
Haydn Cooper, chief executive of Calthorpe Estates, said: “We had a competitive and stringent tendering process to find the right residential property manager. We were impressed with the approach Principle demonstrated, which aligns well with our company ethos, and we are looking forward to partnering with them to deliver excellence in this area.”
