Principle Estate Management is to look after two prestige property developments in London on behalf of a major freeholder client.
The contract includes Sawmill Studios at 19 Parr Street, close to Regents Canal in trendy Islington.
This has two commercial units on the ground floor and basement levels, and 24 residential apartments which each sell for nearly £1m and rent for nearly £3,000 a month.
The second property is Crown Apartments at 45 Westholme Gardens in Ruislip, made up of 24 residential units worth up to £500,000 each and a commercial property on the ground floor.
Principle won the contract from a client which purchased the recently built developments last year as part of a portfolio.
Ian Smallman, director of Principle, said after a review it was decided a more agile agent was needed who could take over at short notice and with limited handover information.
He said: “We are delighted to have been approached to take on these two sites by one of our freeholder clients.
“Principle confirmed instructions on the same day that we were approached, and our Qube data system was set up with the client, property, resident and lease details the very next day.
“We contacted several residents ahead of the handover and held the first meeting on site within two weeks of instruction.
“We are now collecting all asset information from inspections and will ensure all items are under maintenance contracts and any statutory or best practice testing regimes are up to date.
“We had to move quickly due to the circumstances with the previous agent and it was great to demonstrate that we can do that.”
Mr Smallman added: “These are both lovely sites and we are looking forward to working with residents to get the properties settled into new management.”
Principle was launched in 2018 by Brett Williams, a chartered surveyor and a past-chairman of the Association of Residential Managing Agents.
The company is based at Cornwall House in Lionel Street, Birmingham, and offers a national property management service.
It has become the UK’s fastest growing residential estate management since its launch, managing over 100 developments across the country.