City Residential and Central Property Management band together
The two Liverpool-based residential experts have merged their letting operations and formed a new joint venture in the process.
As part of the agreement, City Residential will take over Central Property Management’s leasing portfolio, allowing CPM to focus on block management. Both companies will operate out of existing offices at 5 Jesse Hartley Way and 81 Victoria Street in Liverpool.
“We have worked closely with CPM for many years with City Residential recommending CPM for block management and CPM recommending City Residential for sales, so the merger of the lettings operations is a natural extension to our existing relationship,” said Alan Bevan, managing director at City Residential.
Bevan added that the merger “allows us to offer additional benefits to CPM’s current clients whilst allowing CPM to continue to build on their substantial growth in block management instructions in the city”.
Sean Duffy, owner of CPM, echoed Bevan’s words.
“When we decided to focus our attention on block management the team at City Residential were our logical partners in taking the lettings portfolio over, especially given their knowledge, reputation and experience in city centre lettings/property management,” he said.
Regarding the joint venture, the companies said that they were already in talks with developers, freeholders, leaseholders, and lenders regarding their leasing and management services in the private rental sector.
Over on the build to rent side of things, the JV played up its local advantage, saying it would “advise, operate, and manage buildings bringing an unrivalled level of knowledge and experience to a sector that has been dominated by national operators, many of whom struggle to understand the nuances and complexities of such a unique residential market as Liverpool”.
