Consolidation within the block management sector has continued following the purchase of central London firm Myhill Newman by fast-growing Birmingham-based firm Principle Estate Management.

Soho-based Myhill Newman was founded by Bob Myhill (main pic, centre) and Rob Newman in 1991 and has 24 residential developments totalling 861 units under management, which will now be transferred to Pinciple.

Chartered surveyor and co-founder Bob Myhill remains with the business as a full-time consultant and brings six additional office-based staff and an office on Wardour Street.

“Bob was looking for a route to retirement in the coming years, and we were introduced by a mutual business contact,” says Principle founder Brett Williams (main pic, right).

“We quickly established that the two businesses would be a good fit, and the deal represents a very significant step forward in our growth.”

Myhill adds: “Having spent the last 30 years establishing Myhill Newman as a prime central London managing agent, I was keen to ensure that our clients would continue to receive a proactive and personal service.

Block management

“It soon became apparent that Principle worked with the same ethos and would be the ideal partner.”

The deal also includes four commercial management clients, totalling 29 rented units.

Joe Jobson (main pic, left), joint managing director at Principle, said: “We will be integrating Myhill Newman’s properties into Principle’s management systems over the next few months, giving our new clients access to our customer portal and other benefits to add to the existing service currently provided.”

Newman, who co-founded MyhilL Newman, resigned as a director in 2018.