The Arches, Leicester

Client
Catella Residential Investment Management (“CRIM”)

Location & Size
184-unit bespoke Build to Rent development in Leicester City Centre with a high quality and well-designed amenity space totalling 4,200 sq ft including a cinema room, 2 residents lounges and a large double height reception area together with 43 car parking spaces and on-site cycle storage

Appointed
June 2021

Role
Retained as Asset Manager

Strategy Overview
To lease up, maintain occupancy and deliver a sustainable income stream from a high quality residential building offering best in class amenities, customer service and ESG credentials.

Onboarding/Change Management

  • Exchanged on the forward funding transaction in March 2022 for £35.8M.
  • Undertook tender and appointment of third-party property manager, Cortland UK.
  • Managed PC delivery and rectification of electrical defects.

ESG

  • EPC B, with building benefitting from electric vehicle charging points, on-site storage and electricity supplied from renewable sources.
  • Internal resident amenity, including a gym, residents lounge and flexible co-working space.

Asset Management

  • 12-month corporate letting to Next Plc to take 20 one-bedroom apartments.
  • Maintained occupancy of 93.5% with rents increasing by between 5-10%.
  • Lease Events Managed: 0 new lettings, regears, renewals and rent reviews and we have added £4.1Min value to the asset.

Corporate Services

  • Taking advantage of a highly versatile Property Management and Accounting system and working with the software developers to get the most out of the package, enabling a dynamic approach to data management, resulting in high-quality reporting.

Recent Highlights

  • Renewal of 20 corporate leases to Next Plc.
Scroll to Top