Case Study - Oxford
Mainstay were appointed in the summer of 2015, by Bilfinger GVA to partner on two mixed use (residential and retail) schemes in Oxfordshire.
Audley House and St Helens House were acquired by clients of GVA and comprise a total 29 apartments all of which were occupied under ASTs, and a number of retail units on the ground floor. GVA provide the property and asset management services to the retail elements and because it was recognised from the outset that a specialist portfolio management team would be required to manage the ASTs, Mainstay were appointed to deliver property and asset management services to the residential flats.
A key aspect of the residential strategy was to effect a wholesale disposal of the individual flats on long leases, to either the existing tenants or where the flats become vacant, for sale on the ‘open market’ within the first twelve months. This involved discussion with the existing tenants as well as the locally appointed Estate Agent and by the summer of 2016 all flats in both schemes had been disposed of on long leases enabling our client’s strategic plan for these flats to be delivered within twelve months