Residential Property Asset Management

PRS Management

Did you know that typically a building used for co-living is likely to produce a greater return on investment than a standard PRS development?

With years of experience managing many different types of property, Westbury is ideally placed to manage multi-unit let residential schemes along with their associated communal facilities including how to create a sense of community within a building whether large or small and all associated costs with running such an operation.  We currently advise clients on these types of operations working with investors, developers, and a Local Authority on how to set up all aspects of a building, associated costs as well as looking accurately rents occupancy figures and overall returns.

Case Study

South Hertfordshire

  • Asked to advise Local authority on use of a building previously used as university halls
  • Suggested alternative use as a PRS / Co-living building
  • Advised Authority on cost of refurbishment
  • Advised Authority on facilities to be included
  • Advised Authority on ERV's and management processes
  • Prepare report to demonstrate feasibility of a co-living scheme at the property
  • Advise how to achieve near full occupancy 24/7
  • Prepared proposals and produce JV report
  • Draw up comprehensive P & L report to for Capital Expenditure and Income /Running Costs to illustrate scheme viability
  • Meet with architects to design scheme and formulate a 'brand'
  • Initial briefing with client
  • Full site search undertaken
  • Manage Acquisition of property
  • Tailored and agreed strategies for each asset
  • Advice on refurbishment reconfiguration and build programmes
  • Monthly or quarterly progress reports in terms of progress on builds and income streams
  • Large and tested UK wide network of purchasers at the highest achievable prices.