NEW OPERATIONS DIRECTOR FOR ADDLIVING - STEPHEN WILSON JOINS RESIDENTIAL LETTINGS AND MANAGEMENT BUSINESS FROM TOUCHSTONE
The founders of Addington Capital, Martin Roberts and Matt Allen have recruited Stephen Wilson as the new Operations Director of Add Living, Addington’s sister residential lettings and management business.
Stephen joins AddLiving from Touchstone where he was as Associate Director, leading a team across multiple residential sites in London and the South East. Prior to that he was a Portfolio Manager at Touchstone, managing a team of 9 to look after 1,100 residential properties and 15 commercial properties in London. Before joining Touchstone in 2017 Stephen had worked at residential agents Citystyle Living Ltd.
Stephen’s recruitment to AddLiving comes hot on the heels of appointing James Curry from Daniel Watney as a new residential property manager. These new appointments take AddLiving to a team of 10.
AddLiving was set up in 2018 as a management and leasing platform for large PRS sites and portfolios in Greater London, acquired in joint venture. AddLiving has its own website and web-based management and leasing portal. It is an independent company capable of taking on third party mandates.
Martin Roberts, Director, said, “We are delighted to welcome Stephen to spearhead our residential lettings and management business. He has a strong track record and experience which will enhance our property management expertise.”
“Addington has a history of both acquiring residential properties with its JV partners or acquiring and converting other use classes into residential property. We have acquired over 2,100 residential properties in most major towns and cities across the UK since we set up the business.”
Matthew Allen, Director, continued, “Addington is looking to acquire further residential property portfolios with our JV partners, including further PRS schemes. Having our own residential management and lettings platform gives us the control we need to ensure the delivery of successful investment strategies in the residential sector.”
ENDS
Addington Capital’s Residential Experience to Date
Waterside Leeds -183 units PRS block acquired in JV with funds managed by CarVal. Sold to an institutional investor for £25.5m following repairs and improvements and new management/letting strategy.
Velocity Village, Sheffield- acquired in JV. The residential element of the scheme comprised 371 apartments let to a mixture of professional and student tenants.
Headingley Leeds - a 150 apartments in a campus style development arranged across 4 buildings in a landscaped setting. Acquired in a portfolio with funds managed by ICG.
Married Quarters Estate, Lakenheath, Suffolk- acquired in JV, 474 houses on an estate let to the US Airforce. As the leases expired, Addington refurbished and sold the houses primarily to owner occupiers.
HMO Portfolio- acquired in JV, 366 houses and apartments in 11 regional cities in England and Scotland, occupied by over 1,500 students. Addington arranged the letting and management of the portfolio and undertook a significant capital improvement programme to enhance returns.
One Lampton Road, Hounslow – a mixed use office building with Permitted Development Rights to convert to 120 studio, 1 and 2 bed apartments. Addington undertook the conversion and let the units following completion on March 2021. Another scheme with Europa Capital.
London Estates – Acquired, with partners, granular residential portfolios of mostly Victorian stock in Greater London in 3 transactions since 2018, comprising over 500 apartments and houses with a purchase price in excess of £120m.
