Ringley Group, one of the UK’s leading residential property consultancies, has secured the UK’s largest apartment complex to be managed by leaseholders as a franchisee client.
The Century Wharf Estate in Cardiff is formed of 945 apartments and houses spread across 19 buildings. In 2011, leaseholders on the estate started legal action to take over responsibility for the management of the buildings from the freeholders - under a process known as Right to Manage (RTM) - and in 2014 took formal control.
Century Wharf Estate is now managed by three RTM companies - one for each of the freeholds - representing the 906 apartments on Century Wharf Estate.
As franchisee clients of Ringley Group, the Century Wharf Estate RTMs will pay to use Ringley’s operating systems, which have been developed in-house by the company and draw from the Group’s two decades’ experience in residential real estate.
Headquartered in London with a secondary office in Manchester, Ringley Group currently manages over 12,000 homes across the UK, making it one of the country’s largest property managers.
Commenting Mary-Anne Bowring, group managing director at Ringley, said: “Right To Manage is a useful corrective in the leasehold system that gives residents the ability to either replace their managing agent or take over responsibility for managing the building from the freeholder.
“We are thrilled to be working with what is the largest Right To Manage company in the UK, who will be using Ringley’s bespoke operating systems that have been developed in-house and draw from our many years of managing residential property.
“Century Wharf Estate makes our first client in Wales, and we hope to expand our presence in the country further, building on what has been a year of solid growth at a group-level despite the challenging circumstances created by the pandemic.”
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