Principle wins huge contract to look after London, West Midlands and south England properties

Principle Estate Management has been appointed to look after hundreds of apartments in London, the West Midlands and south England.

The major new national contract has come from Simarc Property Management Ltd, the management arm of the Wallace Group, which last year purchased Gray’s Inn Holdings Ltd. The Group now owns 106,000 leasehold properties.

Simarc had already commissioned Principle to manage ten developments last year, including a development of apartments each worth more than £1.5 million on America Street in London, just off Southwark Bridge Road near the Tate Modern art gallery.

Following its success on those initial properties, Principle has been asked to manage another 24 developments.

The new properties include sites in the London boroughs of Southwark, Lewisham, Sutton, Lambeth and Hounslow, and in various locations in the West Midlands, Hampshire, Dorset and Somerset.

Brett Williams, managing director of Principle, said: “Simarc represents professional freeholders who want things done properly, and it’s been a great experience working with such a supportive client.

“We’re delighted that after showing Simarc what we can do they have had the confidence to award us this major new contract.

“We are experienced in managing a national portfolio and are regularly getting ‘thank yous’ from customers who are not used to getting great customer service.

“We run a very thorough take-on process, carrying out a full review of all information from previous agents, including financial, health and safety, and general compliance reports, then going on to review all service providers and carefully forward planning any changes needed.

“We’re flattered but not surprised at the new instruction, as we know our great team of experienced people on property management, finance and administration is performing well for them.”

Mr Williams added: “The new properties fit into areas where we already have clusters from previous instructions, and we’ll be routinely inspecting each site at least every six weeks.”

Natalie Chambers, director of Simarc, said: “We’ve been impressed with Principle’s care and attention on the first instruction and we had no hesitation on awarding them this much larger contract.

“We want to make sure that our agents provide outstanding service to our customers, and Principle has quickly shown us that it can be relied on to deliver that.”

Principle was launched last year by Mr Williams, the former head of residential property management at CPBigwood in Birmingham and an experienced chartered surveyor. Although based in Birmingham, Principle offers a national property management service and has already won a series of contracts across the UK.