With assets including hotels, offices, retail, restaurants, farming and residential real estate, this client who owns a large private estate, sought a residential property management company to deal with the management of six residential flats across the upper three floors of a prestigious building on Sackville Street, adjacent to the flagship retail haven of Regent Street.
With the client’s ethos of managing its business interests for the long term in a commercial and efficient manner, a crucial requirement in the selection of their property management company was the ability to source high quality tenants for longer term tenancies, ensuring the efficient and cost effective long term management of the asset. Pastor Real Estate were selected for this reason and have now successfully managed these properties for over 11 years.
As part of our role, we have consulted on the redevelopment of the apartments in 2008, advising on the layouts and the specification, to include furnishing, in order to maximise rental income in line with the refurbishment. More recently, we have been instructed to oversee and completely project manage the upgrade and replacement of the heating and cooling systems across the flats, carefully coordinating the works in each flat between tenancies, to minimise disruption to tenants. When it became apparent that the previous heating and cooling units were failing and repairs to the old units were no longer economical, it became necessary to co-ordinate the removal of the old system and installation of at least two new heating and cooling units per flat, as well as external condenser units on the building roof.
The removal and installation work involved was substantial and such that it required each unit in turn to be vacant for the works to be safely undertaken. After carefully compiling the specific requirements for the new system, several tenders were sought and our recommendations made to the client regarding the most efficient and cost effective route to carrying out the works. The Property Management team handled every aspect of the works across several months; coordinating the tenancies and negotiating with residents and contractors, to ensure that the project was delivered on time and within budget.
Day to day, Pastor Real Estate are continuously responsible for the ongoing maintenance and management of the flats, ensuring they are maintained to the highest standard, in line with the required specification of residential accommodation sought after in this prime location.
Quote from Head of Property Management: The upgrading of the heating and cooling system was essential for our client and a substantial challenge for all involved, both in respect of the technical work and management of the tenants. The scope for error in such an intricate project is significant, not only would errors potentially delay completion of the works, but also have a huge impact in respect of issues with placing new tenants and the project budget. Through careful planning and close liaison with all parties and contractors, the process was undertaken and completed without incident, on time and on budget, with all flats in the building beingly swiftly let by the Pastor Real Estate Lettings team.
Quote from client: Having identified the need to change the heating and cooling system for all the flats, we discussed the implications with Pastor Real Estate and were quickly provided with a plan for managing the flats and tenants during this period to optimise the delivery of the works. When the works and the plan were agreed, it was all put into action and went like clockwork.