City Residential and CPM join forces

Leading Liverpool residential agents City Residential and Central Property Management (CPM) are merging their lettings operations and launching a JV company to enable continued growth in their respective areas of expertise. The deal will see City Residential take over the letting portfolio of CPM integrating it into their existing management operation, together with the transfer of two existing members of staff. The merger will allow City Residential to continue to grow their portfolio and cement their position as the leading city centre residential agent whilst allowing CPM to focus on growing and enhancing their reputation as the leading block management operator in the city.

Commenting on the deal City Residential’s Managing Director Alan Bevan highlights the benefits “We have worked closely with CPM for many years with City Residential recommending CPM for block management and CPM recommending City Residential for sales, so the merger of the lettings operations is a natural extension to our existing relationship. It also allows us to offer additional benefits to CPM’s current clients whilst allowing CPM to continue to build on their substantial growth in block management instructions in the city”. Sean Duffy owner/director of CPM is also keen to promote the benefits of the deal to all involved “When we decided to focus our attention on block management the team at City Residential were our logical partners in taking the lettings portfolio over especially given their knowledge, reputation and experience in city centre lettings/property management. The deal will allow us to build on the progress we have made in becoming the leading residential block manager in the city with numerous new instructions in the pipeline” The two companies will continue to operate out of both their existing offices allowing new and existing clients to benefit from having a city and docklands branch.

In addition to the deal for the lettings portfolio the two companies have today announced a new Joint Venture which will see them offer a combined service in both the Private Rented Sector (PRS) and Build to Rent (BTR) market. In the PRS market the combined operation will target schemes whereby the two companies will work jointly to offer a joined-up approach to freeholders and leaseholders that is currently lacking in the market. The JV is already in talks with several developers, freeholders, lenders and leaseholders to act on their behalf. In the BTR market the JV will look to advise, operate and manage buildings bringing an unrivalled level of knowledge and experience to a sector that has been dominated by national operators, many of whom struggle to understand the nuances and complexities of such a unique residential market as Liverpool!