A former PricewaterhouseCoopers (PwC) Partner and well-respected businessman, Simon Cuthbertson, has appointed Principle Estate Management to manage a block of apartments in Birmingham’s Jewellery Quarter.
Named ‘The Square on the Square’, the apartment block is owned by the former PwC Partner Mr Cuthbertson, and was built in 2005 – the building contains 22 leasehold apartments.
Highlighting the reason for choosing Principle to manage his apartments, Mr Cuthbertson said: “I am a professional person with a diverse range of business interests which includes property investments, and I want my properties professionally managed.
“The directors of Principle are well-respected property professionals, and Principle’s reputation is growing, so they were the obvious choice.”
Launched in 2018 by a former Chairman of the Association of Residential Managing Agents, Brett Williams, Principle is the UK’s fastest-growing residential estate management firm, responsible for over 100 developments across the country.
Principle will be responsible for the complete management of the property, collecting ground rents, arranging maintenance and administering service charges to leaseholders at the property.
The contract for ‘The Square’ – which also includes rent collection for a shop on Oak Tree Lane – is ‘complex’ due to the land being owned by St Paul’s Club, and having two separate leases and service charges, despite being one building.
Brett Williams, Managing Director of Principle, said: “This contract needed someone who can get their head around these complications and, with the leases, have systems to properly allocate expenditure.
“Meanwhile, the client had inherited a family investment with the shop rental and wanted someone who could also look after a commercial property.
“Principle is able to this because it’s a mixed property management specialist catering for all property and tenure types, not just traditional block management.”