SDL Bigwood secures showpiece estate management deals
BIRMINGHAM-based SDL Bigwood has secured two large estate management deals – including a £16m refurbishment of the former Cadbury head office.
It has agreed a contract with private rental sector landlord Sigma Capital Group for hundreds of its properties, while the former Cadbury building, now known as The Franklin, also promises to be a showpiece scheme.
Sigma has selected the firm to be its exclusive letting and property management partner for its recently announced PRS Fund, which is looking to build 1,000 properties rental units across England over the next 18 months.
The contract builds from SDL Bigwood’s management of the DifRent portfolio, a Sigma Capital and Gatehouse Bank fund, which has already seen over 600 units let and continues to deliver 60 units each month.
Construction on the first Sigma sites is already underway and SDL Bigwood will be handling the letting and management of units from this August.
The developments will feature two, three and four bedroom homes, furthering Sigma and SDL’s commitment to providing PRS developments which represent family-friendly communities for tenants, while delivering strong yields.
Paul Staley, PRS director at the SDL Group, said: “I am delighted that Sigma has acknowledged our success working alongside them on behalf of Gatehouse bank by awarding this major strategic contract to deliver the letting and management of their new £100m investment.”
The Franklin, the former Cadbury head office in Bournville, has been converted into 79 luxury residential apartments in a £16m joint venture between Birmingham developer Court Collaboration and Hong Kong-based Headland Developments.
Kate Hutton, new business client support manager for SDL Bigwood, said: “Our PRS & Estate Management department will be managing all aspects, both internal and external – everything from cleaning to gardening, maintenance and tenant liaison.
“We are thrilled to win the business. It is a quality development. Court Collaboration and Headland Developments have done an amazing job and we very much appreciate the confidence they have shown in us.”
The Franklin began life in the 1960s as a modernist building and the redevelopment has sought to retain some of the original period feel.
