A property management agency has won the contract to manage an innovative development in Cardiff Bay which is aimed at making accommodation in the sought-after area affordable.
Seraph Property Management has been appointed to manage the 152 properties across two sites in Cardiff Bay called Tiger Quay and Abbotts Quay.
The development is the brainchild of Porthcwlis , a development company owned by Trivallis, formerly RCT Homes, and the project has drawn praise for its trailblazing funding model. With £19M of backing from one of the UK’s biggest investment firms M&G, Porthcwlis has developed three sites in total; two in Cardiff bay and one in Cwmbach near Aberdare.
Speaking of the contract award, Managing Director of Seraph Property Management Douglas Haig, said: “This is a real feather in the cap for us. To manage a development in one of the UK’s most desirable places to live is hugely rewarding for our hard work and steady growth.
“As well as the two sites’ alluring location, the affordability model that underpins the development is incredibly exciting to work with. The sustainable funding model allows us to manage properties under market value of the area, with a portion of available homes at an impressive size given the price.”
The value of the contract is roughly £150,000 to the Albany Road-based property agency and comes after consistent year-on-year growth with 122% increase in turnover between year-end 2013 and 2016 for The Seraph Group; Seraph Property Management’s parent company.
Julie Vellucci, Business Development Director of Trivallis said: “We’re proud to be offering affordable homes in such a desirable location and we wanted to ensure that the homes are let by an agency that understands the market in Cardiff Bay. We recognise the experience and professionalism that Seraph Property Management offers and are pleased to be working with them on such a high profile project.”