Understanding Wychwood Park Management Company and Its Future

Slide Note

Wychwood Park Management Company plays a vital role in managing contracts, finances, and resident issues within the community. Originally set up by residents, the company has had an interesting evolution over the years. The current focus is on potential ownership transfer from Countryside Properties to the residents to ensure better control and prevent third-party involvement. Recent progress includes financial agreements and land transfers.

mken Follow

Uploaded on Oct 03, 2024 | 0 Views

Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

E N D

Presentation Transcript

Wychwood Park Management Company

Introductions Karen Delay Chair of Wychwood Park Residents Society (WPRS) Jon Wright Vice Chair of WPRS Lance Stephens Treasurer WPRS Barry Feast WPRS Member Les Kingston WPRS Member Barry and Les were key in reinstating the fountain!

WPRS? Originally set up by Connaught Brook residents in 2001 Mostly a social and residents forum at the time Successfully arranged for resident representation on WPML Quite an active group of residents working with CP and WPML Action Group decided to take an alternative approach to challenge CP legally and ultimately took over WPML and WPRS representation Small group returned in 2015 to reinstate communications with CP

The Management Company What does it do? Manage and tender the security and landscaping contracts Maintain roads, lighting, infrastructure get tenders for work required Collect, account and audit the money from residents and hotel/golf club Approve and enforce planning applications Deal with resident issues / complaints where possible

The Management Company What doesn t it do? Anything to do with hotel and golf club including their land Deal with personal neighbour disputes How is it set up? Currently a subsidiary of Countryside Properties Ownership of the sinking fund and communal land Control of the sinking fund and current accounts Day to day management outsourced to Lamonts (Legat Owen)

The Management Company - future Why are we discussing it? Countryside no longer have an interest in the park The Hotel are not interested in taking on the management company Risk of it being sold off / outsourced to a 3rdParty Countryside Properties have offered it to the residents Take control of the management company and the park ground in which we live in. Remove the risk of third party interest in the park.

The Management Company activity so far Progress has been made over the last year Agreement for full stat accounts to be provided Process of ensuring all pockets of land transferred to WPML Legal representation for residents provided (ORJ Solicitors) Checklist for due diligence completed Contracts, Bank Accounts, Utilities, Licenses and Insurances required, Lighting charges 1 Freshwater drive costs, any legal contracts or warranties in place Asset transfer process to remove liability risk

The Management Company core objective To maintain the park to the original specification that people bought into To do so efficiently and cost effectively Maintain 3rdparty day to day management To act in the best interests of the property owners

The Management Company what next? To get any feedback / concerns regarding this process from home owners We need some volunteers to assist with hamlet representation on the board To provide a structure to the new company which will incorporate WPML Directors from owners and hotel Not massively onerous, quarterly meetings and occasional email support Reinstate resident and owner meetings moving forward Target dates: Nov 15 for company creation, Dec 15 handover, Jan 1st16 start