The East Midlands office of property agents CPBigwood is set to double in size less than a year after being launched.
The firm has agreed a deal to move into larger premises at its current location, Brooklyn House, 44 Brook Street, Shepshed, near Loughborough.
Brett Williams, CPBigwood’s partner in charge of residential management, who is overseeing the expansion, said: “We hit the ground running last October, have picked up new business and have quite a few current inquiries for new management instructions.
“We are very pleased at the way the office is developing and we are determined to drive it forward.
“Our aim is to become a major player in the East Midlands and we are on the right track. It is a growth area for us.”
Mr Williams said they were happy with the office’s reach, being “nicely in the middle of the Leicester, Derby, Nottingham triangle”.
“Previously we had three individual rooms in a shared building.
“We’re moving to a self-contained unit at the rear of the main building that will have six desk spaces with capacity for further growth.
“It’s effectively doubling the East Midlands presence in less than 12 months.”
CPBigwood launched the operation via the acquisition of Lloyd Property Management.
Originally a management buyout from estate agents Newton Fallowell around five years before, LPM had 1,200 units under management and, like its purchaser, was a member of the Association of Residential Managing Agents (ARMA).
It specialised in estate and block management for freeholders, developers and resident management companies as well as providing a residential lettings service.
Services include collection of service charges, collection of ground rents, service charge budgets, year end accounts and annual returns, the negotiation of service contracts, building insurance, reinstatement valuations, the implementation of planned maintenance programmes, site visits and inspections, liaison with residents, and attendance at management company and residents meetings.
“It has proved an excellent fit,” said Mr Williams.
“The offer was based on property management but we announced at the time that we expected the office to grow to encompass all CPBigwood areas including property agency and auctioneering. That remains the intention.
“We are looking to connect the West and East Midlands, helped by our wide-ranging contacts in the former. For example, we act for a lot of developers in the West Midlands who also have extensive East Midlands businesses.
“We see a lot of potential to develop in the East Midlands, particularly as the Government’s planning reforms and Funding for Lending scheme, coupled with the Bank of England’s determination to keep interest rates low, are producing a burgeoning housing market and building revival.”
CPBigwood have six offices – two in Birmingham at 45 Summer Row and 104-106 Colmore Row, Stratford-upon-Avon, Henley-in-Arden, Shepshed and London.
Partner Bill Drake-Lee, who lives in the East Midlands, will continue to use the Loughborough office as appropriate – he is also charged with growing CPBigwood’s presence in the London market.