Another UK first for London ALMO

In April 2013, CityWest Homes Residential achieved a UK first by being the first arm's length management organisation (ALMO) to complete a property sale on behalf of a client.

The property, a one bedroom apartment in Fitzrovia, Westminster, was sold as part of the company’s drive to provide more services for leaseholders. It also helps to establish a positive relationship with lessees, from the very start of the process of purchasing their new home.

In 2009, CityWest Homes became the first ALMO in the country to start up a residential lettings agency, CityWest Homes Residential. This is a property management and residential sales agency and their recent sale is a landmark for the team.

Thomas Quaye, manager of CityWest Homes Residential, said: “The sale is a first for us and one of the many things which we feel makes CityWest Homes unique. As the first ALMO to set up a lettings agency, it seemed a natural transition to sell properties as well as letting them.

“This demonstrates that it is possible for an ALMO to offer a successful estate agency service. We can sell, let and manage homes. The sale has been a landmark achievement for the organisation and we are already in the process of selling three more properties.”

The buyer, who does not wish to be named, said: “I would like to thank CityWest Homes for the help in the purchase of my property. Having worked with many agents before, I found the lettings team to be particularly polite and helpful, making the purchase a stress free affair.”

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