RTM SUCCESS FOR RIVERSIDE PLAZA

Riverside Plaza, a prestigious development of 80 apartments in Battersea, London, has succesfully acquired the Right to Manage (RTM). 

The situation was unusual in that the leaseholders of Riverside Plaza jointly hold a freehold interest, but are tied to a tripartite lease agreement with OM Limited. OM Limited instructed OM Property Management Limited, a Peverel Company, to manage the development. The only way the leaseholders could gain control over management of their property and transparency over costs, was to exercise RTM.