Gloucester Terrace

Size

6 Floors

SIZE

24 Properties

Caretaker

On site (live-in)

Upon appointment, our team took immediate steps to stabilise this development by reconnecting with tenants and setting in place a more responsive and structured management approach. A full transition from the previous agent enabled lease renewals and effective arrears recovery – key to re-establishing financial control.

Focused investment followed, with internal remedial works completed in response to previous roof leaks, and a major lift upgrade now underway. Health & Safety requirements, previously neglected, were fully updated and enforced. With the service charge and lettings income being actively managed, the block is now in a much stronger financial position. This improved stability is enabling the client to plan for long-term enhancements and value growth across the building. Our team continues to manage both the communal areas and the lettings for this asset.

  • Brought the arrears down to 0.00 in the first 6 months.
  • No Arrears – being addressed within 3 days from normal pay date.
  • Vacancies filled within 10 days – 1 months.
  • Set a process of incremental rental reviews and increases to continue growth of income
  • Capex plan for cyclical refurbishment of property to improve the assets capacity to generate further income
  • Addressed issues with the lift which have been permanently resolved and considerably lowered the cost.
  • Appointed a live-in Caretaker
  • Attended to all Fire Risk problems within the 1st 6 month’s of taking over the management.
  • Attended to a huge number of outstanding maintenance concerns in over 15 units within the first 6 months
  • Our trusted list of maintenance contractors ensure that all
    maintenance concerns are resolved in a short timeframe
  • CCTV in process of being upgraded
  • Cleaning: 3 days a week