Chainbow, the specialist block management company that has recently taken a high profile approach to the Build To Rent sector, has been acquired by Savills.
Since 1989 Chainbow has been involved in residential block management and the wider private rental sector and provides management and consultancy to clients including Taylor Wimpey.
Recently Chainbow has been involved in the establishment of the UK Apartment Association, which describes itself as the first organisation exclusively servicing this country’s Build To Rent sector. It calls itself the “first international chapter” of the National Apartment Association, which is the leading organisation in North America’s very well established and large Build To Rent sector, known there as Multi-Family Housing.
Commenting on the acquisition, Savills chief executive Mark Ridley says: “Chainbow has an established and well-respected reputation across the property management spectrum, particularly in the residential and estates arena, which will both complement and enhance our existing offer.”
All of Chainbow’s 28 members of staff, including senior management, will join Savills with immediate effect.