How the Development is Managed
Completed in 2019 by Salboy Ltd, the property is governed by its lease agreements and the Articles of Association of Local Blackfriars Management Limited (MANCO). Urbanbubble currently serves as the appointed managing agent responsible for day-to-day operations.
Leaseholder Collaboration & Action Team Formation
While individual investors raised operational concerns in the development's early years with limited outcome, leaseholders came together in mid-2025 to form an Action Team. The team’s purpose is to review historical finances, organize key documents, and request necessary explanations regarding service charge costs, recurring Block B lift outages, reserve fund movements, and general governance.
Why Timely Accounts Matter
The 2021/22 service charge accounts remain the most recent annual statements provided to leaseholders. Subsequent financial years are outstanding, despite repeated inquiries. Timely, audited accounts are vital for leaseholders to reconcile budgets against actual spending, assess reserve fund adequacy, and verify that service charges represent fair value.
Structural Warranty & Defect Protection
The development benefits from a 10-year inherent defects insurance policy. It is critical that policy terms and deadlines are carefully monitored so potential defects can be formally notified in a timely manner—particularly when evaluating recurring mechanical issues such as the Block B lifts and exploring cost recovery options.
Next Steps: Board Representation
To address these ongoing accountability gaps, the Action Team is actively seeking formal leaseholder representation on the MANCO board to establish transparent governance and ensure management standards meet expectations.
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