This long established and highly profitable Block & Estate Management and Landlord Insurance Letting & Property Management business was established in 2006 to incorporate a share of a pre-existing firm formed in 1996.
The business provides 3 distinct but complimentary services which can be separated into 2 distinct disciplines:
Block & Estate Management and Landlord Buildings Insurance
105 Blocks with 1900 units and 12 Estates with 370 houses are managed throughout the East Midlands. There is a steady Pipeline of new business, currently 9 Blocks & Estates.
Operating as an FCA authorised Appointed Representative for circa 420 clients, with the majority of insurance income from managed blocks.
Lettings & Property Management
300 properties throughout Leicestershire and Nottinghamshire. Landlord retention rates are very high.
Our client is prepared to look at offers for the company as a whole or sell each of the services separately, if a buyer prefers.
(Please note that there is a possibility that the Lettings and Property Management service may be subject to an MBO)
The business has grown considerably to the current turnover levels below (FYE Mar24):
Block & Estate Management and Landlord Insurance £854k
Lettings and Property Management £275 k
Total £1129 k
Staff
The vendor works full time in the business and provides expertise in Block Management, Lettings Management and Financial Control.
Block & Estate Management and Landlord Insurance - There are 15 employees, 9 full time and 6 part time. All Block & Estate Managers are qualified through The Property Institute (formerly ARMA), 2 of which are MTPI, including the Senior Block & Estate Manager, 1 is AIRPM studying for MTPI to be achieved within 6 months, and 1 is studying for ATPI to be achieved within 6 months. There are 6 members of staff that carry out routine and low-level responsive maintenance on 4 rotas.
Lettings & Property Management - There are 5 employees, 3 full time and 2 part time. The Lettings Manager is FARLA qualified to the highest level through Propertymark (formerly ARLA). The lettings negotiator is MARLA qualified.
Premises
The Block & Estate Management and Landlord Insurance, and Lettings Management Teams operate from leased offices, centrally located and owned by the vendors pension fund. A Freehold sale could be considered, if required.
Key features:
- Offers are Invited for this Property Agency Business as a Whole or Separately
- Long Established and Highly Profitable Concern
- 3 Distinct Services Offered which separate in to Block & Estate Management and Landlord Insurance, and Lettings & Property Management
- Combined T/O £1.1m+ and Showing Excellent Growth
- Centrally Located, Dedicated Premises - Available Freehold if Required
- Strong Second Tier Management Team
- Retirement Sale
