Grade II-listed apartments worth nearly £2m feature in Principle’s latest contract

A national ground rent investor has asked Principle Estate Management to look after six stunning apartments in a Grade II-listed building overlooking the River Thames.

The units in the converted historical building at Richmond Hill in Richmond, Surrey, which are opposite Buccleuch Gardens and overlook Petersham Meadows, are each worth nearly £2m.

Richmond Hill, Surrey

They are just a few of a portfolio across seven locations in a new contract from Simarc Property Management Ltd, the management arm of the Wallace Group, which owns well over 100,000 leasehold properties.

As well as the Richmond site, the portfolio includes another nine apartments in a period conversion at Windmill Drive, right on the edge of Clapham Common in Clapham, each worth approximately £750,000.

Down in Kent, there is a further period conversion of 22 apartments near Fort Pitt Grammar School and the River Medway in Rochester, four commercial units with apartments above close to Sevenoaks railway station, and a block of modern apartments in Maidstone.

Other properties in the south include a modern development of apartments just 10 minutes walk from Wells Cathedral in Somerset, and a modern apartment building in Braintree, Essex.

Meanwhile, the portfolio also includes another modern apartment development close to the Crompton and Royton Golf Club up in Royton, Oldham, and a further building in Macclesfield.

Brett Williams, managing director of Principle, said: “We’re pleased that Simarc continues to instruct us to manage more properties, as it shows how they must be happy with our performance elsewhere.

“Several of the new properties are prestigious old buildings that are well known in their areas, and we’re delighted to be looking after them. As an independent national operator, they fit nicely into our existing areas.”

Mr Williams explained that the new contract involved taking over from another managing agent as Simarc continued to refine their panel of agents.

He added: “Principle loves working with freeholder clients like Simarc who demand that property management is carried out not only to comply with statute and best practice, but in a customer-focused manner, as that is what we’re all about.”

This is the fourth contract Principle has won from Simarc following earlier commissions to manage hundreds of flats in London, the West Midlands and south of England, and several developments in London where the apartments are worth up to £3m.

Natalie Chambers, director at Simarc, said: “We continue to be impressed with Principle’s care and attention on the properties we’ve asked them to look after.

“We are the long-term custodians of these buildings and take that responsibility very seriously.

“We owe it to the leaseholders and residents of the buildings we own that they are looked after by high-quality managing agents.

“We insist that all our agents provide outstanding service to our customers, and Principle has again and again shown how it can be relied on to deliver that.”