Property management firm delivers £170K savings at Sheffield tower block

The savings come at a critical time for leaseholders nationwide. According to recent reports, the average annual service charge bill reached £2,300 by the end of 2024, marking an 11% increase from the previous year - more than four times the Consumer Price Index (CPI) inflation rate of 2.5% for the same period.

The residential building insurance market has proven particularly challenging, with premiums rising sharply in recent years due to increased claims, building safety concerns, and reduced insurer competition.

The results at the Sheffield tower block, home to predominantly established families and older residents, demonstrate how systematic property management can deliver tangible value when service charge transparency has become a critical concern for leaseholders.

Chris Browne, Managing Director at Horizon Management, said: "Our work at this Sheffield tower block reflects our core approach: methodical analysis of costs, careful negotiation with suppliers, and maintaining service quality while delivering genuine value.

“In a market where residents are rightly scrutinising every pound of their service charge, we've demonstrated that significant savings can be achieved through proper management and attention to detail. These aren't quick wins or corner-cutting measures, but sustainable improvements that benefit residents year after year."