ELM Group expands UK portfolio with acquisition

ELM Group expands UK portfolio with acquisition

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ELM Group expands UK portfolio with acquisition
Lorraine Collis

Frimley-based property administration firm ELM Group has expanded its portfolio of UK retirement properties with a serious acquisition.

As a part of the formal gross sales course of facilitated on behalf of housing supplier Orbit, ELM Group has purchased 1,368 items throughout 30 native authority areas, taking its portfolio of properties throughout the South of England from greater than 3,300 to 4,638.

The deal contains 1,178 non-public retirement leasehold residences, 168 non-public retirement leasehold homes and bungalows, 17 normal wants and shared possession homes and bungalows, and 5 automobile parking areas for which ELM Group will perform its property administration and gross sales administration providers.

After exchanging contracts this week, the transfers of property will likely be going down in three levels to make sure that a “excessive stage of consideration” will be given to make the transition “as seamless and stress free as potential” for leaseholders.

Lorraine Collis, chief government of ELM Group, mentioned: “That is an unbelievable, vital time for ELM Group as we enter a interval of the best enlargement the organisation has seen in such a brief house of time.

“The acquisition has offered some challenges for the enterprise and little question there will likely be extra to return, nevertheless, ELM Group was constructed on a basis of pioneering the retirement housing sector so we’re completely positioned for guaranteeing the transition from Orbit to us is profitable.

“We have made the mandatory adjustments to our company construction to make sure we will proceed delivering the identical service excellence we have develop into recognized for, with an trustworthy, upfront, and moral strategy to property administration.”

Paul Richards, group director of buyer and communities at Orbit, added: “We’re delighted to finish this switch with ELM Group. As a specialist supplier within the retirement sector, we imagine ELM Group will be capable of provide long-term advantages to residents.

“This switch additionally helps our densification technique and creates operational economies of scale throughout our wider portfolio.”

The acquisition has been facilitated for ELM by PDT Solicitors and Fairthorn Farrell Timms Surveyors and Savills and Anthony Collins Solicitors for Orbit.

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