The contract to manage The Old Post Office on Horse Street, Chipping Sodbury, near Bristol, has come from Pier Management, the asset management subsidiary of the national freeholder Regis Group.
The new instruction comes after Pier Management purchased the property’s freehold and the existing agent was not on its panel of approved agents.
Principle already looks after a national portfolio for Pier including several properties in the Bristol area, and was asked to take on The Old Post office with immediate effect on completion.
Daniel Harrison, managing director of Pier Management, said: “We are happy with Principle’s performance on our existing portfolio, so it made perfect sense to discuss Horse Street with them.
“We have high standards for our property management as we take our responsibilities as freeholder very seriously.
“We therefore like owner-managed businesses like Principle, where our instructions matter to them.”
Adam Jones, the new business integration manager at Principle, said: “We were pleased to be asked to take over this property at short notice.
“Our experienced Integration Team quickly contacted the previous agent and was able to get our Qube computer system records set up and introduction letters quickly issued to all leaseholders.
“We followed on with a full review of all compliance, contractors, property management, legal and finance information.
“By having a specialist team overseeing new instructions it allows the allocated property manager for each site to spend time communicating with our new customers and scheduling all property management items.”
Mr Jones added: “We have a dozen properties in the Bristol area so this development fits nicely into that portfolio which continues to expand.”
Principle Estate Management was launched in 2018 by Brett Williams, the former head of residential property management at CPBigwood in Birmingham, and a past-chairman of ARMA.
Now in its third year, Principle has tripled in size in the last 12 months, with the number of units it manages rising from just under 2,000 to more than 6,000 across all nine English regions including London, plus more in Wales.
The company is based at Newhall Street in Birmingham and offers a national property management service.