BELOW describes a few examples of the properties we've helped to improve over the years.
MONO BUILDING, LIVERPOOL
Rating on engagement (2014): 1 star
Current Rating (2019): 4 star
Leaseholder target rating: 4 star
The Mono Building is an 18 unit, on street, city centre development. In 2014, there was minimal security, poor communal areas, a leaking roof and drug issues within the building. These issues were accompanied with a very high service charge, no reserve funds and low rental and resale returns.
The first thing we did was to support the leaseholders in gaining control of their investment via the Right to Manage (RTM) process. After 2 and a half years, Rebloom has been able to upgrade the communal areas, upgrade security and created a quiet, welcoming environment for residents. This has resulted in improved rental and resale values by +25%. Rebloom has been able to accomplish this while also lowering the service charge by -22% and the building now has a healthy reserve fund.
Online building destination for residents, link here.
PRINCES GARDENS, liverpool
Rating on engagement (2015): 1 star
Current Rating (2019): 3 star
Leaseholder target rating: 4 star (end 2019) - 5 star (2020)
Princes Gardens is a 96 unit, gated, garden development in the heart of Liverpool. In 2015, the gardens were poorly maintained, lighting issues in communal areas and the car park and a problem with drug use within the buildings and gardens. The previous service charge, while low, was unsustainable and poorly implemented, meaning that any work done was to a poor standard and didn't benefit the residents or leaseholders.
Rebloom supported the leaseholders through the Right to Manage (RTM) process, giving the control of the building and investments back to the leaseholder. After 5 years, Rebloom has reduced the insurance premium by 40%, reduced electricity costs by facilitating the switch to LED lighting in communal and parking areas. Improved security by installing CCTV & installing the first of many ‘secure by design’ front doors. Improved the gardens which now attract more diverse birdlife. Reduced waste removal costs by 90% through onsite composting of garden waste.
All for a management fee that is equivalent to the price per leaseholder of a cup of coffee per week.
TOBACCO WHARF, LIVERPOOL
Rating on engagement (2018): 1 star
Current Rating (2019): 2 star
Leaseholder target rating: 5 star (2022)
Tobacco Wharf is a 116 unit development comprising 2 buildings within a gardened, gated development with a canalside frontage, just 1 mile from Liverpool City Centre.
The building was once a tobacco factory on 4 floors. The conversion to residential units was completed in two phases, 2005 for the main structure fronting the canal and 2006 for the penthouses and building fronting Commercial Road.
The management of the building was taken on by Rebloom in September 2018. The initial health & safety assessment identified that the building as failing a number of HSE regulations and a plan was implemented to resolve the failings.
As with many such developments, no funds were available from the previous agent on transfer and many leaseholders expressed their displeasure with the maintenance of the development in previous years. A 12 month programme of work has been set up to address leaseholder concerns and early implementation has resulted in positive feedback from residents.
Working with our client who took control of 68 flats in early 2018. The objective has been set to deliver a 5 star rated development by 2022. Although this an aggressive target we are pleased to confirm that the first step in this process has started and we have every confidence that a level 5 rating can be achieved in the fullness of time.
The development is aimed at professionals working in the City & families. It has excellent transport links into the City by bus and Train, yet offers an open, relaxed environment to live in.
An online portal for Tobacco Wharf provides access for residents, leaseholders, on-site staff and directors. The residents view of the portal can be accessed here.
OXID HOUSE, NQ Manchester
Oxid House is a 12 storey development in the Northern Quarter of Manchester with a Roof area and Gym for resident use. Onsite concierge and numerous additional residents services available.
Completed in 2018, the development is aimed at professional people working in the city centre.
We work with the O’Connor Bowden - development, sales & lettings company to ‘holistically’ manage the whole development. Our role being the provision of block management services. The advantage of working closely with O’Connor Bowden is that we are able address anti-social behaviour, lease breaches and financial issues early and therefore maintain the quality of living within the development.
The processes we have developed to support this mirror those required for large PRS developments. This is a unique approach and one that we will duplicate in other developments with like minded developers, sales & lettings agents.
An online portal for Oxid house provides access for residents, leaseholders, onsite staff (eg: concierge) and directors. The residents view of the portal can be accessed here.