Family appoints Principle to manage property portfolio across eight sites
A longstanding relationship with a family of property investors has resulted in Principle Estate Management’s appointment to manage a portfolio across eight sites.
The family inherited the portfolio from their late uncle, John Rabbitts, a property expert who worked for Arthur Kemp & Reeve after the war, a company that merged into Neale & Aldridge and later into Lambert Smith Hampton.
Mr Rabbitts bought properties as part of his pension in the early 1980s, including traditional blocks of flats from the 1960s and 1980s, and numerous ground rents across the West Midlands.
He self-managed the portfolio while working part time at Perry & Deakin and it was there in 1992 that he first met Brett Williams, then a graduate surveyor, and now the managing director of Principle Estate Management.
Mr Williams went on to look after the Rabbitts’ properties from 1998 until about a year ago when he was working elsewhere.
The family said: “Property management was our Uncle’s speciality and it had been his wish that Brett continued to manage the portfolio. We were therefore delighted when we heard that Brett had formed Principle. We wanted a far more personal and efficient service for both ourselves and the lessees.”
“We know that Brett and Principle Estate Management will provide a high standard of property management, and it’s a great comfort to us to have Uncle John’s properties safely looked after by Brett again.”
Mr Williams was a joint executor of Mr Rabbitts will after his death, handling probate valuations and the sale of two flats, before the remaining properties passed on to his nieces.
Principle now deals with collecting the portfolio’s ground rents and service charges, and other property management issues, and deals with lease extension inquiries, advising the freeholders on valuations and terms.
Mr Williams, managing director of Principle Estate Management, said: “While there’s always some sadness looking after properties that have been handed down within a family, I have fond memories of John who taught me a lot in my early years in the profession.
“He was a stickler for detail. There’s a lot of history attached not only to these properties, but also to the family which I’m proud to continue to work with.”
Before launching Principle Estate Management, Mr Williams was the head of residential property management at CPBigwood in Birmingham.
Principle Estate Management is based at Cornwall House in Lionel Street, Birmingham, and offers a national property management service, predominantly to modern residential apartment buildings and traditional blocks of flats.