Principle Estate Management has launched a specialist new-build service to help developers create residential estates that are more profitable and sustainable in the long-term.
The targeted new offering is headed by Principle’s business development partner Bob Simonds, with the assistance of the company’s integration team.
He explained that this estate management approach was “the logical next step” following a series of developer instructions, and that it would play a “significant role” in maximising efficiencies of new schemes for developer clients.
Mr Simonds, a chartered surveyor, said: “Through our hands-on experience of optimising estate management, we have now developed a service that not only helps make new development schemes more profitable but also ensures they are more sustainable for the long-term.
“We aim to do this by handholding developers throughout their process of planning, designing and building new estates, carefully assisting them at those early stages on the structures of leases and the eventual apportionment and levels of service charges.
“As well as supporting planning requirements, we can advise on design elements and estate management strategies that assists developers to future-proof their schemes and mitigate potential issues that may impact on service charges.
“Our qualified team can also support developers’ sales by liaising directly with property buyers so they understand the details of service charge budgets and what these pay for from the outset.”
Adam Jones, the integration manager at Principle who is an Associate of the Institute of Residential Property Management, explained how his team would play its part in the new-build service.
He said: “When a new development scheme comes into management with Principle, our integration team will ensure every property within it is set up with the correct contracts, leases specifications and service charges from the outset.
“I will be personally inspecting the properties and reviewing any snagging requirements, and will work with the building contractor to ensure all commissioning has been done correctly.
“I will also fully review warranties as well as the operating and maintenance manuals for all common area mechanical equipment, making sure that all new tenants have the assurance that everything is working and looked after from the start.”
Mr Simonds will be assisted on the new-build service by Esme Williams, Principle’s integration assistant.
He added: “What we’ve developed in our new-build service is a way of making real sense of contracts and service charges for every leaseholder, saving a lot of time, effort and money that might otherwise be wasted at later stages.
“By getting all these aspects right to start with, our developer clients will end up making higher margins from their investments, and by engaging with residents at an early stage we aim to impact positively on the everyday lives of these new communities.”
Principle, whose directors are all experienced chartered surveyors, is a full and active member of the Association of Residential Managing Agents.
It now has 50 staff looking after a portfolio of over 9,000 units in 270-plus developments across the UK.
For more details of the new-build service offering, developers can contact Mr Simonds on 0777 575 0399 or email him at RSimonds@PrincipleEstate.co.uk
