No. of Units

63

Type

1 Bed, 2 Bed, 3 Bed Apartments 

Services

Lettings, Tenant Management, Health & Safety.  

Overview

Savills was appointed as Lettings & Tenancy Managers of Knockrabo in October 2020 by Regency / Bain Capital. The scheme consists of 63 residential apartments contained within a wider estate of privately owned homes.

From the date of appointment, we began an instant advisory role on unit pricing, proposed resident mix and pre-letting of the units with a view to launching the scheme and securing tenancies as quickly as possible. 

We conducted a walkthrough of each individual unit not only to ensure our proposed pricing was correct but also to familiarise ourselves with each unit type. A robust marketing campaign was agreed and implemented, and we began our lettings and tenancy management of the scheme in earnest. 

Given that the development was launched to the market during a traditionally quiet time of year for lettings, and also with a Level 5 lockdown on the horizon, we took video tours and photographs of each individual unit to ensure that no opportunity to secure an interested tenant was missed. We found that this strategy worked very well, and a high number of lettings were secured on the back of this approach, minimising downtime and maximising occupancy in the development, which is crucial to the launch and lease up of of a new scheme.

No. of Units

870

Types

Studio, 1Bed, 2 Bed, 3 Bed, 4 Bed (Apartments & Houses)

Services

Lettings, Tenant Management, Block Management, Facilities Management, Health & Safety, Building Consultancy. 

Overview

We were initially appointed in September 2012 by receivers Grant Thornton. At the time the

development consisted of 423 units (200 which were let). Our instruction was to secure the rent roll, manage and get and understanding of the tenants and fit out a large element of the vacant units for leasing and sales purposes. 

Upon purchase of the development in 2013, Kennedy Wilson retained Savills as agents. Our initial focus was to let the remaining 142 units which we completed in 8 weeks. Following a successful lease up we set about understanding the client’s vison and operational requirements for the development to bring it to the next level as a significant PRS development. 

Savills have a full-on site team at Clancy Quay and oversee the full management of the site and amenities that include, Gym, Cinema Room, Kitchen, Business Pods and games room. Kennedy Wilson developed Phase 2 of CQ which we launched in 2017 and successfully let up and now operate. In July 2020, Savills launched the remaining phase to the market, and we were responsible for the entire set up and roll out of the scheme. In conjunction with the client, we worked with their marketing company and implemented a strong digital campaign. The development has is now fully leased up and we continue to work with Kennedy Wilson to ensure the development remains at the forefront of the PRS market.