Developer to set up own in-house property management company

Developer Barratt is to set up its own in-house property management service – Barratt Residential Asset Management – on its London schemes, to give residents service through the entire life of the development.

Barratt London is the first developer outside the retirement sector to launch this type of in-house management company. 

The objective will be to give the company a competitive edge in large leasehold developments where the management of common areas and service charges can become an issue. It is structured not to be profitable in its own right. 
 
Alastair Baird, managing director of Barratt London, said: “We believe the properties we sell in London will be more attractive by offering an in-house management service.

“Buyers, whether they are owner occupiers or investors, are increasingly aware of how property management and service charges are reflected in the value of their properties. 

“We want to show customers that we are there for the long term.
 
“The name Barratt Residential Asset Management highlights that we understand that a Barratt property is not only a home but also a significant investment, whether you are an owner occupier or a buy-to-let investor.
 
“In the highly competitive residential development sector, it’s essential that we continue to innovate and improve what we offer our customer.” 
 
The service will launch next spring and all future developments built by Barratt’s London division will be managed through Barratt Residential Asset Management. 

Andy Billson has been appointed to run the new service. The first sites are likely to be Battersea Park Road, Battersea; The Courthouse, Horseferry Road, Westminster; and Altitude in Aldgate.