Mainstay Residential has been appointed by Brick By Brick, the Croydon Council-owned residential developer, to manage a number of homes across the borough.
The property management company, which operates nationally, has secured the contract for the first 270 units across a portfolio of 11 schemes.
Every residential scheme in Brick By Brick’s portfolio will be built new, and will be a mixture of affordable homes and private sale units – with the developer having maximised the number of affordable houses on site.
Brick By Brick and Croydon Council’s aim is to provide high-quality affordable homes for local people. The developer looks to add value to existing neighbourhoods, and delivers everything from apartments for first-time buyers to family homes and bigger schemes in central locations, with priority offered to Croydon residents to rent or purchase. The units which Mainstay will be managing will be a mix of shared ownership and private homes.
Charles Lucas, Technical Director at Mainstay, said: “Mainstay is excited about this fresh challenge, and to be working with a developer with a strong set of values.
“Both parties are passionate about operating with integrity – we saw a clear synergy between ourselves and Brick By Brick, and are confident that this will be the beginning of a long working relationship.”
Mainstay will be managing Auckland Rise and Ravensdale & Rushden, both in Upper Norwood, and Flora Court in Thornton Heath. The contract commenced in early Q4 2019.
Colm Lacey, CEO at Brick By Brick, said: “Customer care is extremely important to us. We have a complex set of properties that need careful, active and resident-focussed management, and we are delighted to be working with Mainstay to do this. Mainstay have an impressive depth of experience, and share our commitment to quality.”
Established in 2000, Mainstay was founded by Glyn Miles, Graham Donaldson and Andrew Tilly.
The business now manages in excess of 80,000 homes across the UK, and headcount stands at 726.
This year alone, Mainstay is on track to turnover a record-breaking £25.9 million in line with its 2020 corporate strategy.