Find out more about the latest legislative changes that will impact the housing market as well as the latest thinking on best practices for the property industry by attending one of Propertymark’s upcoming regional conferences. As part of the professional body’s #MOREFOR24 campaign, Propertymark members can attend one of these
Sutton Council has appointed Lovell as the preferred bidder to rebuild Elm Grove estate in the town centre. Lovell has been selected to redevelop the existing homes – between Sutton High Street and Throwley Way – at a meeting of the Housing, Economy & Business Committee in July 2024. The
After a competitive tender process, Parkfords Management has been appointed to manage Century Tower in Chelmsford on behalf of the newly formed Right to Manage company. Michael Lawton, Director of Parkfords, explained, “This is a significant win for our Essex office. Over the last 18 months, we have made rapid
Cushman & Wakefield has partnered with Property Inspect to manage compliance across its largest real estate assets. The partnership with its Asset Management Team in Ireland is enhancing compliance management across its major real estate assets, bringing cost savings and operational efficiencies to its asset management strategy. Property Inspect, the leading
Landlords carry out repair or maintenance work on buy-to-let properties an astonishing 72 times throughout their ownership, with costs exceeding £34,000 – that’s according to recent research. Whether it’s a minor mishap or major catastrophe, property damage can impose substantial financial burdens and headaches. But which types of property damage are the biggest
Celebrating the release of their new customer portal app, Faraday Connect, leading property management and surveying agents Faraday are proud to continually evolve and improve their customers’ experience. As the first of many developments and with over 4,000 app downloads, the launch of the Faraday Connect app marks a milestone
Last week, Savills announced that it has acquired the UK property management business of Montagu Evans, which will be integrated into Savills’ operations. This move provides Savills with an opportunity to enhance its already robust UK property management business by further broadening its client base, particularly in the public sector.
Three family businesses have merged to create one of Derbyshire’s largest independent property brands, cope&co. Husband and wife team, Daren and Susan Cope, alongside their son and daughter James and Annie, are bringing their two estate agencies, James Cope Homes and Amber Homes, under the same roof as their residential,
Odevo, the fast growing international property management group, strengthens its UK presence as The Vegner Group joins. The move takes Odevo’s homes under management globally to over one million. The Vegner Group is the fifth company joining Odevo this year across Europe and the US. Vegner Group Limited is
Research by Warwick Estates reveals that the UK’s property management services industry is on track to have a market value of more than £30 billion by 2025 as a pandemic slump makes way for consecutive years of steady growth. The property management services industry covers all businesses that provide third-party
Find out more about the latest legislative changes that will impact the housing market as well as the latest thinking on best practices for the property industry by attending one of Propertymark’s upcoming regional conferences. As part of the professional body’s #MOREFOR24 campaign, Propertymark members can attend one of these conferences for free as they continue to offer this member benefit to help the very best agents throughout the country. Propertymark’s Bristol Regional Conference taking place at the Bristol Hotel on 12 September has a fantastic selection of speakers including Insights Practitioner Tracey Thompson, and James Munro, the head of the National Trading Standards Estate and Letting Agency Team, who will specify the most recent material information guidance to assist you with meeting your legal obligations. Additionally, the founder of Landlord Action and TV star Paul Shamplina will discuss previous letting agent failures, and Alex Jeffrey, Partner at Bright Solicitors, will talk about the possible challenges ahead, as well as the opportunities letting agents have for the rest of the year. James Munro and Alex Jeffrey will also feature as guest speakers at Propertymark’s Regional Conference at the Old Trafford on 17 September. Other keynote speakers include Lucy Noonan, founder of specialist acquisition management services Atomic Consultancy, and Timothy Douglas, Propertymark’s Head of Policy and Campaigns. There will also be updates from ARLA Propertymark President Angharad Trueman, NAEA Propertymark President Toby Leek, and NAVA Propertymark Advisory Panel Member Stuart Collar-Brown. Attendees will also get the opportunity to network with leading industry suppliers. Jason Lee, Head of Commercial at Propertymark, said: “Propertymark’s regional conferences are back with a bang and continue to grow. We have an amazing line up of guest speakers for all attending these events to help enrich their knowledge about the latest happenings across our industry. Non members are also welcome to attend and book their tickets. “We encourage members to use this membership benefit and book your free ticket to attend a conference near them and network with likeminded professionals.” To locate a Regional Conference near you, view its full programme and secure your place, visit: https://www.propertymark.co.uk/careers-learning/conferences/west-country-regional-conference.html. Attending one of these events also contributes towards a member’s Continuing Professional Development requirement. Building, Design & Construction Magazine | The Choice of Industry Professionals
Sutton Council has appointed Lovell as the preferred bidder to rebuild Elm Grove estate in the town centre. Lovell has been selected to redevelop the existing homes – between Sutton High Street and Throwley Way – at a meeting of the Housing, Economy & Business Committee in July 2024. The new homes will meet high sustainability standards meaning more comfort, energy efficiency, and lower heating bills for residents. The Elm Grove scheme will be located next to another key council project at Northern Gateway, opposite Asda, which will provide new high-street premises in the historic White Building for Sutton College, the borough’s adult education centre. Both projects are key parts of the Council’s plans to transform the town centre. In the past few months, several key projects have started coming to life: the co-working and wellbeing space at Oru Sutton in the old BHS building opened to the public; works have started at the Northern Gateway and 137-145 High Street sites; and the new Throwley Yard cinema launched this summer in the former Chicago’s nightclub. 79% of residents voted in favour of the plans to redevelop Elm Grove in March 2022 and works are scheduled to start in May 2025. All existing eligible residents choosing to stay on the estate will be offered a new home. Councillor Jake Short, Chair of Sutton’s Housing, Economy and Business Committee, said: “This is a really exciting step forward in the Council’s plans to build new quality and affordable homes for our residents in the heart of Sutton town centre, and tackle the Housing Crisis. “Our new council homes across the borough have already been recognised for their high design and environmental standards. The selection of an experienced development partner means our goal to deliver incredible homes and open spaces for Elm Grove residents can now move to the next stage.. “We have been driven by what Elm Grove residents want their future homes to look like and now this vision is set to become a reality with construction works currently scheduled to start early Summer 2025.” Building, Design & Construction Magazine | The Choice of Industry Professionals
After a competitive tender process, Parkfords Management has been appointed to manage Century Tower in Chelmsford on behalf of the newly formed Right to Manage company. Michael Lawton, Director of Parkfords, explained, “This is a significant win for our Essex office. Over the last 18 months, we have made rapid strides, consistently securing new contracts and setting new benchmarks for customer service and client interaction. By focusing on transparent communication, prompt issue resolution, and personalised service offerings, we bring a fresh perspective to client relationships, ensuring our clients feel valued and heard. This dedication to quality and client satisfaction has been instrumental in our swift growth and success. We’re excited to bring our expertise to this fantastic building and look forward to making a positive impact and setting a new benchmark for quality’’. About Century Tower Century Tower is a nine-storey residential building completed in 2015 on land once owned by the neighbouring Essex County Cricket Club. Initially part of a larger development that was later scaled down, this modern apartment block is set in the heart of Chelmsford City Centre, overlooking Central Park and the River Can. Building, Design & Construction Magazine | The Choice of Industry Professionals
Cushman & Wakefield has partnered with Property Inspect to manage compliance across its largest real estate assets. The partnership with its Asset Management Team in Ireland is enhancing compliance management across its major real estate assets, bringing cost savings and operational efficiencies to its asset management strategy. Property Inspect, the leading provider of building compliance and real estate solutions, is thrilled to announce its partnership with the esteemed global commercial real estate services firm Cushman & Wakefield. Working with its Asset Management Team in Ireland, this partnership signifies a pivotal advancement in its property inspection processes. It empowers the Cushman & Wakefield Asset Management Team to bring their facility services in-house, saving the need for expensive external resources. Recognising the manual, costly and resource-heavy nature of its inspection efforts to date, Cushman & Wakefield approached Property Inspect for a streamlined and efficient way to simplify its inspection workflows, with an aim to bolster compliance and expand the capabilities of its internal team. With an annual inspection mandate covering 8000 assets and diverse requirements ranging from Fire Risk to Health & Safety and meridian compliance, it sought a partner capable of delivering an easy-to-use and easy to integrate inspection system that can offer actionable insights to multiple teams and stakeholders. “After meticulous evaluation, we chose Property Inspect for its unparalleled service quality, adaptability, and seamless integration capabilities,” remarked Hazel O’ Carroll, Associate Director, Asset Services at Cushman & Wakefield. “Their commitment to excellence and tailored approach aligned perfectly with our vision for streamlined operations.” Property Inspect responded swiftly to Cushman & Wakefield’s needs, addressing key priorities such as base scoring methodologies and implementing a grading scoring system for Meridian compliance risk management. The partnership has yielded significant outcomes, including enhanced data collection, user-friendliness, and scalability, culminating in a roll-out to one of its largest assets, Dublin Airport Central. As a result, Property Inspect enhanced Cushman & Wakefield’s operations by reducing inspection times from 6 to 2 hours, resulting in significant annual cost savings. “We are excited to embark on this collaboration with Cushman & Wakefield, helping them dramatically reshape its property management processes,” comments Steve Rad, CEO at Property Inspect. “Through the implementation of Property Inspect, its teams have not only seen immediate enhancements in compliance rates, operational efficiency, and risk mitigation efforts, but have also experienced a significant transformation in the way they manage their properties, saving them time and the need for costly external resources.” The success of this partnership highlights the power of innovation and collaboration in revolutionising property management. As Cushman & Wakefield continues to expand its use of Property Inspect across its complex and comprehensive portfolio, the future prospects for enhanced efficiency and scalability remain promising for the leading commercial real estate services firm. For more information about Property Inspect, visit www.propertyinspect.com Building, Design & Construction Magazine | The Choice of Industry Professionals
Landlords carry out repair or maintenance work on buy-to-let properties an astonishing 72 times throughout their ownership, with costs exceeding £34,000 – that’s according to recent research. Whether it’s a minor mishap or major catastrophe, property damage can impose substantial financial burdens and headaches. But which types of property damage are the biggest nightmare for landlords? Keen to find out, the buy-to-let insurance provider Alan Boswell Group delved into common home damages and their estimated repair costs alongside Dave Sayce at Compare My Move, to reveal the most expensive fixes that can cost landlords a fortune. Key findings: Home woes: 10 costliest property damages for landlords Rank Property damage Estimated costs to repair 1 Underpinning £5,000 – £25,000 2 Roof repairs £3,000 – £10,500 3 Electrical rewiring £1,500 – £10,000 4 Rendering £2,000 – £8,500 5 Plumbing and water damage £450 – £5,000 6 Damp £200 – £5,000 7 Flooring repairs £500 – £1,800 8 Painting and plastering £800 – £1,500 9 Mould removal £200 – £1,200 10 Heating and boilers repairs £100 – £500 Potentially costing landlords upwards of £25,000 depending on property size, underpinning stands out as the priciest home repair. This structural intervention becomes necessary when the foundations of a property weaken – often due to persistent subsidence – prompting a complex process that incurs eye-watering expenses. Fortunately, underpinning is only needed in less than 10% of UK properties affected by subsidence. Heath Alexander-Bew, from Buy-to-let insurance provider Alan Boswell Group, shared: “Thankfully underpinning is typically only reserved for severe cases of foundation instability, and often considered a last resort. Seek professional advice to determine the best solution for your property’s needs, cost-effective alternatives like soil stabilisation and resin injection are available at a fraction of the cost.” Roof repairs are the second most expensive task to undertake, potentially costing landlords up to £10,500 for a complete replacement. Typically, roofs require a full repair every 25 years, although this timeline can fluctuate based on factors such as weather conditions, property age, and roofing material. Rubber roof and tiles are generally cheaper compared to slate or fibreglass. However, if you’re dealing with just a handful of cracked or missing tiles needing replacement, the average cost hovers around £200. “Look for common signs such as missing or cracked tiles, water stains on ceilings, and damp patches in the attic. Regularly inspect your roof, especially after severe weather – identifying damage early can save landlords significant costs.” The third most expensive fix for landlords is electrical rewiring, which can zap up to a whopping £10,000 for a full property rewiring. Around 7,000 house fires in the UK are caused by electrical faults annually. To prevent loose wiring and ageing electrical installations from sparking unwanted fires, watch for signs of wear-and-tear like flickering lights, buzzing sounds from sockets, and regular fuse box tripping. “Electrical safety checks, which average around £215, should be conducted more frequently to ensure your property meets current regulatory requirements. Additionally, monitor whether your home has surpassed the 25-year mark since its last complete rewiring. Updating older systems not only enhances safety but also helps prevent more extensive repairs in the future.” Rendering comes fourth on the list, with estimated repair costs soaring up to £8,500. However, applying a fresh coat of render will not only protect your exterior from penetrating damp and prolongs lifespan, but also boosts your property value, potentially increasing your asking price sizably. Rounding off the top five most expensive property damages is plumbing and water damage, with landlordspotentially losing up to £5,000 in severe cases like water damage restoration costs post-flooding. Almost 7,000 UK homes and businesses have been flooded in the past 18 months – the wettest period on record – underscoring the widespread impact of water-related issues exacerbated by the UK’s notorious weather. Building, Design & Construction Magazine | The Choice of Industry Professionals
Celebrating the release of their new customer portal app, Faraday Connect, leading property management and surveying agents Faraday are proud to continually evolve and improve their customers’ experience. As the first of many developments and with over 4,000 app downloads, the launch of the Faraday Connect app marks a milestone for Faraday in transforming the way leaseholders and property owners engage and communicate with their property managers and surveyors. With enhanced access to the portal anytime and anywhere, Faraday understands the significance of convenience for their customers. By extending the portal’s availability with a user-friendly app, users can now access Faraday Connect from any mobile device. Following their recent launch, Faraday are already planning to introduce new features to ensure the platform continues to enhance their communications. Aimed at empowering users, Faraday Connect enables customers to conduct real-time financial monitoring, effortlessly engage with their community, and instantly raise and track requests, all at the touch of a few buttons. Faraday’s Managing Director, Russell O’Connor, added: “In today’s digital world, it is increasingly important that information is easily accessible. With the development of Faraday Connect, we prioritise our customers’ ability to instantly connect with their property managers and retrieve important documents such as key building and leasehold documents. As ethical and transparent agents, we pride ourselves on making it easy for customers to find important information, which is why our portal acts as an easy-to-use hub for service charge details, fostering open lines of communication and tracking their request progress.” Director’s Area By extension, Faraday Connect grants Directors improved access to information through a secure and dedicated area. This exclusive Directors area also offers easier ways to communicate with their property management teams transparently and efficiently, further enhancing the platform’s functionality. Faraday’s dedicated team brings years of specialised experience in building surveying and property management. Whether you have a historic or new build, using the latest technology, Faraday is equipped to support your property’s unique needs and enhance your property management experience. Building, Design & Construction Magazine | The Choice of Industry Professionals
Last week, Savills announced that it has acquired the UK property management business of Montagu Evans, which will be integrated into Savills’ operations. This move provides Savills with an opportunity to enhance its already robust UK property management business by further broadening its client base, particularly in the public sector. It will also strengthen its accounts team and create greater opportunities to leverage sector-specific knowledge and expertise throughout its UK divisions and regions. Led by Andrew Walker, the property management team at Montagu Evans consists of nearly 100 staff, with 20 based in its London office, 18 in Edinburgh, and a further 59 site-based staff who will all transfer to Savills immediately. Those based in London and Scotland will join Savills’ respective offices in these locations. Montagu Evans’ property management team has an established client base, including Redical Holdings, Rivington Hark, AEW, and several local authorities. They currently manage a shopping centre portfolio of approximately 5 million sq ft across 20 centres, with the majority being public sector mandates. This will both complement and enhance Savills’ market-leading position in relation to shopping centre instructions, which encompass 49 million sq ft across the UK, with a predominantly private client base. Nick Herward, head of property management at Savills, says: “By acquiring Montagu Evans’ UK property management business, we have a valuable opportunity to expand and augment our already market-leading property management offering in the UK. We have identified strong synergies with our existing instructions and clients, which will help us to enhance our service further. The team at Montagu Evans has a wealth of experience across the industry with very well-regarded personnel that will provide additional depth to our team.” Andrew Walker, head of property management at Montagu Evans, comments: “This is an exciting opportunity for the team, and we look forward to working with Savills, whom we regard as market leaders in property management. This move not only supports our growth and expansion but also enables us to maintain a first-class service for clients while providing a strong platform for future growth and offering new opportunities for our people to develop their careers.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Three family businesses have merged to create one of Derbyshire’s largest independent property brands, cope&co. Husband and wife team, Daren and Susan Cope, alongside their son and daughter James and Annie, are bringing their two estate agencies, James Cope Homes and Amber Homes, under the same roof as their residential, sales and property letting business, Professional Properties. It is the first time the company, which has its HQ in Canterbury House on Stephensons Way, has undertaken a major merger and rebrand since it launched nearly 25 years ago. James, the company’s Sales Director, and Annie, who is Operations Director, will be taking a much more prominent role moving forward after dedicating their time to Professional Properties, James Cope Homes and the recently acquired Amber Homes in Alfreton. Susan Cope, the company’s Managing Director, said it was time for the family-run business to reflect on a key milestone in its own history, blend the trio of successful businesses and celebrate the company’s growth. She said: “We want to bring all the strings of our business together and now is the time to do it. Daren and I have worked tirelessly to build the company and we decided that coming together, under one brand, was the way to progress. “Family means everything to us, and we are proud that James and Annie will work as hard as us to grow cope&co. “What they are achieving is phenomenal and we can’t wait to continue celebrating their successes.” The new cope&co brand launches this month with an exciting new website and look and feel, which will become a regular sight across Derbyshire and East Staffordshire. Under its new identity cope&co is one of the largest independent letting and estate agents in the local area offering bespoke lettings and property management services, residential sales, as well as selling current investment properties to investors. A new block management service will also be launching next January as part of the exciting new merger. Marketing Derby Bondholders, Daren and Susan Cope launched Professional Properties almost 25 years ago and started from a small office in Derby’s Old Blacksmith Yard, just off Sadler Gate. The business rapidly grew as the couple ploughed their time and energy into building one of Derby’s most successful businesses within the property industry. Susan said: “As the business developed, we moved around to accommodate the growth in staff. It soon became clear that our customers liked the way we worked, and we became business leaders in lettings and property management. “Right now, we are one of the largest, independent letting agents in the area and I think it’s because we are so passionate about what we do. “We have strong family values, and every member of the team works in the same way. James and Annie, share our ethos and drive and they are hugely knowledgeable in the property sector.” The business has already launched its new website at www.copeandco.co.uk and will celebrate its official launch with an open day early in January, 2024. Daren, the company’s Finance Director, said: “Our new brand is a reflection of our amazing journey so far as a family, but it also marks our aspiration to continue growing as a business. “We are proud of our family name – so why not celebrate it? “It has been a real team effort. We are delighted with the outcome, and we now welcome people to cope&co, the new name in property in Derbyshire.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Odevo, the fast growing international property management group, strengthens its UK presence as The Vegner Group joins. The move takes Odevo’s homes under management globally to over one million. The Vegner Group is the fifth company joining Odevo this year across Europe and the US. Vegner Group Limited is a leading residential property management group in the UK managing over 100,000 homes with nationwide reach across 20 office sites. Vegner specialises in Residents Management Company (“RMC”) clients, bringing further expertise and specialism to the Odevo Group range of competences. The group also has unique proprietary accounting software and incorporates a high-performing tech team. Odevo is on a mission to become the leading force within the residential property management industry by leveraging the combined power of people and technology. The Vegner Group are the fourth business in the UK to join Odevo, following Rendall & Rittner, Premier Estates and Trinity Property Group, further strengthening Odevo’s footprint across the UK. Odevo has grown more than 30 times in just four years and is now home to over 5,000 employees with an annual revenue of close to 300 million GBP. Odevo has a unique approach to building a leading international group by empowering strong teams and companies while creating value across the group. By being part of the group, these companies can leverage their strengths and expertise while benefiting from the collective resources and support of Odevo in areas such as technology, financial services, human resources, and compliance, to mention a few. This approach results in substantial buying power, technical and operational resources which are of considerable value to clients, helping them to navigate the increasingly complex world of property management on a cost-effective basis. “Both The Vegner Group and Odevo have a shared ambition to develop people, deliver excellent performance to clients, and push the boundaries of the property management industry. By joining forces with Odevo, The Vegner Group will gain from extended pooled resourcing across multiple areas of our operation as well as best-in-class technology solutions, and pass those benefits on to our customers along with continuing to build upon existing alliances with our business partners. We look forward to working in close collaboration to deliver an industry-leading service together.” remarked Alec Guthrie, CEO of The Vegner Group. “The Vegner Group is a leading property management operator in the UK, and we are delighted to welcome them to Odevo. Vegner will bring a high penetration of ancillary services and market leading expertise to the Odevo UK range of competences. With The Vegner Group joining Odevo, it will give us an even stronger presence in the UK market and in turn mean we now have over 5,000 colleagues serving over one million homes across Europe and North America as we continue our ambitious expansion plans.” said Odevo CEO Daniel Larsson. Odevo plans to continue its strong growth journey, both organically and by attracting additional companies to join the group. This approach has secured leading positions in Sweden, Finland, the United Kingdom and the United States in just a few years. The company has greatly increased its investment in technology and digital transformation and now employs close to 100 software engineers developing bespoke industry solutions. Building, Design & Construction Magazine | The Choice of Industry Professionals
Research by Warwick Estates reveals that the UK’s property management services industry is on track to have a market value of more than £30 billion by 2025 as a pandemic slump makes way for consecutive years of steady growth. The property management services industry covers all businesses that provide third-party or outsourced services to oversee the management and maintenance of property, as well as tenant relations, on behalf of owners or landlords. Today, the industry is made up of 22,245 businesses employing 309,172 members of staff, combining to generate a market value of £27.7 billion. This value represents an increase of 5.3% since last year but still isn’t enough to bring market value back to where it was prior to the pandemic. The current market remains -4.9% down on 2019 when its value peaked at £29.1 billion, but there needn’t be too much cause for concern because today’s value is still 26.8% higher than it was a decade ago. Furthermore, projected figures suggest that 2022’s start towards post-pandemic recovery is paving the way for at least three years of continuous market growth culminating in 2025 when the property management services industry is expected to be worth £30.4 billion; a 9.8% increase on today’s value. If this comes to fruition, it will mean that the market reaches a higher value that at any other point in the past decade, including its pre-pandemic peak of 2019. Data tables Data tables and sources can be viewed online, here.
