Another prime London site says goodbye to Peverel, a year after winning right to manage and allowing the property manager to show what it could achieve.
That is: showing what it could achieve working for consumers, as opposed to getting business straight from the developers, or working for its former owner and giant freeholder Vincent Tchenguiz.
Palgrave Gardens, a site of 288 units near Regents Park, has decided to jettison the property manager after keeping it on for a year after winning right to manage.
A similar arrangement existed at the massive 422-unit Metro Central Heights, south of the river at Elephant and Castle. But there, too, Peverel has been shown the door.
When the RTM took over Palgrave Gardens there was excited talk that the company had changed its attitude markedly.
But the goodwill has fizzled out. It is now to be run by Premier Estates, whose MD is Ben Jordan, the current chairman of ARMA.
Metro Central Heights is being run by Kinleigh Folkard & Hayward.
LKP is unaware of any self-managing, prime London site that has retained Peverel.
Palgrave Gardens certainly qualifies as that. The site is moments from Regents Park, and the complex offers access to a large swimming pool, a gym, a sauna and comunal gardens. Each apartment comes with a private parking space.
It is located five minutes away from Baker Street and Marylebone station.
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Peverel loses 2,376 prime London units
The Right To Manage Federation chalks up its 28th leasehold RTM success in central London … as it fights epic Plymouth RTM duel in the Land Tribunal
Metro Central Heights wins largest ever right to manage action
Leasehold Bill from ALEP receives a few home truths in the Lords
That’s a good result without a doubt. I looked at an apartment there once and didn’t buy, in part because I knew about Peverel being a complete and total rip-off.
The swimming pool isn’t that great actually. It ticks the swimming pool box, just.
Paul Joseph,
whilst Palgrave Gardens is a blue chip development, i have also heard the swimming pool being described as a bit of a dive!
Since Peverel were awarded one year contracts to manage Metro Central Heights and Palgrave Gardens, logic would dictate that orders would be given to really look after those developments above all else.
What a PR bonus it would have been for Peverel to be able to say “We showed the residents just how much we have improved and they have elected to reappoint us” But the residents of Metro Central Heights and Palgrave Gardens did not reappoint Peverel. At their very first opportunity they dismissed Peverel. This latest dismissal comes on top of so many others. It is true that they did “win” a 13 flat development in Croydon. But I understand the appointment is under threat and Peverel had to take news of the appointment off their website.
For those unfamiliar with Metro Central Heights and Palgrave Gardens, those developments are so high profile losing each of them is the cash generating equivalent of losing 25-30 medium developments.
An excellent point indeed. REDACTED
The attrition must be making them very nervous in Luton.
And yet, they have no idea what awaits them.
We have not yet reached the end of the beginning!
OMhostage what a logical prose, we have not reached the end of the beginning?
It is this level of great understanding that maintains the great quality of those that wish to comment?
I hope you are set free soon.
Another Prisoner number 6.
I trust you recognised I was quoting Churchill:
Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.
Peverel’s Alamein hasn’t happened… yet. The outcome, however, is not in doubt. Whether it happens through more attrition (and there’s plenty in the pipeline) or a large bang it is inevitable.
I too have a quote from Churchill. It was 60% cheaper than Kingsborough! OH YES!
Peverel who?????
Paul J’s comment above is a typical example of what having a bad managing agent on board does to a development… bad news travels fast and it stops purchasers buying into a development…….
Karen,
We owe so much to the creators of sites such as this.
It is only through the publicity generated can the rock that companies such as (I will self REDACT) hide under be removed.
In the past, unlawful and immoral practices and bad news could be kept hidden. No longer!
Agreed and if we all keep spreading the gospel of LKP and Campaign against retirement leasehold exploitation the quicker these cowboys will have nowhere to hide. I have just had an update on another site that have been trying to get RTM with a little help from friends.. it is currently managed by a major player in the industry and they have given in gracefully to leaseholders demands for a RTM. Another victory for leaseholders.
If you ignore the usual issues that arise in regard to Peveral and its former owner, the fundamental problem for owners is that , still to this day ,it is set up to run to service itself, financially and operationally, in rigid and internal facing systems and structures They, and as a result the service that a PM can provide to a building, are neither flexible enough nor geared toward providing the service that owners in control need, let alone want.