There has been a cascade of retirement right to manage applications this summer. Carlex reports the issues of Warner Court here
Many retirement sites are seeing the advantage of breaking free of having FirstPort imposed on them by their Tchenguiz freehold owner. The Guardian points out that the interests of the Tchenguiz are ultimately controlled by the Tchenguiz Family Trust in the British Virgin Islands.
Sebastian O’Kelly, of LKP / Carlex, is quoted in the article:
“The Tchenguiz organisation routinely opposes the move, sending an executive to the site to warn the pensioners about the complexity and responsibilities of opting for right to manage. It also frequently offers to replace FirstPort with another freeholder-appointed management service,” O’Kelly explains.
“The question anyone undecided about right to manage needs to ask is: If a site is being managed as economically and efficiently as possible for the benefit of the residents, why do Tchenguiz and FirstPort resist right to manage so determinedly?”
Any site considering right to manage may contact Carlex for advice and guidance on achieving right to manage.
Residents controlling their own blocks of flats and appointing a property management company accountable to them is absolutely standard practice everywhere in the world … apart from England and Wales, which uniquely continue with residential leasehold.
More on this article to follow …