Arguably the best known figure in block management, Roger Southam has sold a major chunk of his Chainbow business after more than 20 years, and will now focus on the emerging professional private rented sector.
Southam, who founded his business in 1989, has described the move as a ‘leap of faith’.
It has resulted in the merger of the portfolios of Chainbow and Trinity (Estates) Property Management. The new firm will be called Trinity Chainbow, servicing around 40,000 owners of properties in blocks.
The merger has created what is thought to be the largest privately owned residential management firm in England and Wales. It expects further growth in the sector, particularly within inner London.
Trinity, founded in 2000, has secured contracts with the potential for 10% growth in the coming year.
Trinity Estates managing director Jonathan Smith said: “This merger is opening an opportunity for both companies to pool our resources and cater to the growing number of blocks, not only in the capital but throughout the nation.”
Southam said: “Since the beginning of the property downturn, we have seen more and more blocks change management to ensure they are getting value for money. Everyone is still feeling the pinch and what Chainbow and Trinity Estates have always delivered is transparency, accountability and regular communication with leaseholders, freeholders and tenants.
“This honest approach is what has facilitated the successful growth of both Trinity and Chainbow, and I see a lot of potential for Trinity Chainbow to increase its dominance in the block management sector.”
Southam is holding on to his Chainbow brand, which will continue to operate independently from Trinity Chainbow, and will concentrate on servicing the emerging new breed of professional landlords.
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