This is a landmark victory for sites such as Charter Quay and for the Residents Association who have succeeded in raising the profile of the unfairness of their situation.
London (PRWEB UK) 12 April 2012
Charter Quay, built by St George and completed in 2001, is a large mixed use development situated on the banks of the Thames in Surrey which includes 239 apartments, restaurants, commercial units, a theatre and river moorings. HML Andertons was originally appointed to manage the communal parts of the site in 2009, following a ruling by the LVT – a HM Courts & Tribunal Service tribunal which specialises in leasehold disputes - after a number of long leaseholders took legal action against their landlord and the landlord-appointed managing agent – County Estates Management.
Case number LON/OOAX/LAM/2011 was recently heard at the LVT, where it was determined that HML Andertons’ appointment would be extended until the end of 2014. The Charter Quay LVT Team, as they are known, started on a course of legal action a number of years ago to appoint a new managing agent and to recover monies paid over a six-year period, most of which were as a result of the previous managing agent committing the development to unfair contracts, many of which were with associated companies.
The Charter Quay Residents Association announced at its Extraordinary General Meeting in February 2012 that approximately £500,000 has been saved in the three years since HML Andertons’ appointment. This is as a result of HML Andertons arranging for the lessees to be released from a number of onerous contracts and introducing a number of cost saving measures. Supported by the members of Charter Quay Residents Association, HML Andertons were delighted to have their contract extended and will continue to work with the Residents Association to recover funds still owed to them and complete outstanding works to the site.
HML Andertons’ Managing Director, Alan Coates, says, “Perseverance and commitment pays off. This is a landmark victory for sites such as Charter Quay and for the Residents Association who have succeeded in raising the profile of the unfairness of their situation. Charter Quay’s success will be remembered for a long time and will hopefully go on to pave the way for similar developments and, perhaps, lead to a change in the regulations affecting our industry.”
HML Andertons is the south London and Surrey division of the HML Holdings group of property and estate management companies. Operating from headquarters in Croydon, Surrey, they also have satellite offices in Aldershot, Bristol and West Malling to cater for the growing demand in property management the south of England and the western counties. For more information please visit their website at http://www.hmlandertons.com.