A newly formed right-to-manage company has appointed Principle Estate Management to look after central London apartment blocks worth £250m .

Portman Towers is located just off Portman Square and opposite Montagu Square in W1.

The property hosts 88 flats across 11 storeys in two blocks, with each u it commanding £3m or more.

Principle’s London office won the job after a tender by The Property People, a consultancy handling property management changes in London.

Joe Jobson, joint managing director at Principle, says: “We are thrilled to have won this new contract to look after such a high value property in London’s Marylebone area.

“We were successful in our tender by being quite honest and yet very positive about how we would deal with several issues we considered were crucial for the future management of Portman Towers.

“This included the property’s 24-hour concierge service, which we felt could be maximised with better job descriptions, expert team training, and the development of a strategic approach to ensure more efficient, proactive approaches.

“As part of our 100-day promise, we will be focusing on improving common entrances, potentially working with interior designers we can recommend from previous similar jobs we have overseen.

“We also explained how we would look after what is a significant amount of plant equipment and machinery at the property, focusing on statutory requirements for testing and maintenance to make sure they are adequate and performing optimally.”

Sandeep Singh, director of The Property People, adds: “The new RTM wanted to ensure that residents received high-quality concierge services and that the high-value common areas of this prestigious apartment block were fully maintained and future-proofed.”

Launched in 2018, Principle now has more than 70 staff looking after a portfolio of nearly 20,000 units at around 400 developments across the UK.