Having recently marked its 20th anniversary, LRM Prime Ltd had even more to celebrate after its Director of New Business, Jodie White, was Highly Commended at the 2023 Property Management Awards in the Business Development Manager of the Year category. The firm also just missed out on being named London Property Management Company of the Year against a highly competitive field.
“It’ always a positive to receive this type of award recognition, particularly as so many of the large industry management agents were in attendance,” explains Jodie. “We are very much a specialised boutique operator that works within the luxury market in central London, so to be recognised for that is really important.”
By focusing on the prime market, LRM Prime has carved out a strong niche within the marketplace that has allowed it to excel. “While we first established the business in 2003 as a residential specialist, over the years the industry changed to the point where it became clear that scale would be a factor if we were just going to do vanilla block management like everyone else,” outlines Andrew Spalton, Director. “I therefore took the step of creating the prime business in 2015. It was much more focused on the luxury end of the market and tapped into our ability to provide a higher level of customer service more akin to a hospitality model. Around this time, we launched our first tower block and, on the back of its success, we have since built up a strong portfolio of prime sites. Jodie joined us six years ago to help us with this process and has done a brilliant job, so it’s great that she’s received this award recognition; it’s well deserved.
“From the perspective of the company overall, we’re only really interested in dealing with properties that are very complicated. We’re very good at understanding the complexity of tall tower blocks, of demanding customer sets, of developers that are new to either the UK or new to residential development. These are the customers we feel we can impart most value to.”
The Property Management Awards obviously felt the same way, having shortlisted LRM Prime in the London Property Management Company of the Year category. “We’ve been going a long time but have perhaps been guilty of operating under the radar somewhat. When it came to the competitive tender process, we preferred to be the left field candidate that ticked all the necessary boxes, but still offered something a bit different to the norm. However, we reached a point where we felt it had become important to shine a light on the quality of the work we’re producing, so decided to put ourselves forward for award recognition. To therefore be shortlisted, and for Jodie to be Highly Commended, is fantastic. It underlines her hard work and that of the wider team too. It’s not an easy job so it’s important to celebrate collectively.”
This is particularly true as LRM Prime is very much focused on the strength of its staff and the role they play. “We’re definitely a people-driven business and we endeavour to recruit the right individuals that suit our culture,” says Jodie. “We recruit heavily from the hospitality sector, as these are the type of skills we’re looking for. We then ensure our people can thrive and reach their potential. Five of our senior managers recently celebrated their fifth work anniversaries with us, which is a brilliant milestone to have reached. It was a fantastic evening full of great conversation.”
This loyalty always tells a story, demonstrating the commitment that LRM Prime shows to its employees, which currently numbers just over 300 across the business, including site staff. “We’re great believers in promoting from within. We’ve many instances where housekeepers have become concierges, so we’re always looking to identify opportunities for people to grow and develop their careers with us, by recognising their unique skills and talents. It’s one of our biggest differentiators and has helped us to build real continuity within the business. Having a strong personnel approach within the team is then reflected in the relationships our teams develop with their clients, to help fully understand their needs too.”
This customer-focused approach has made LRM Prime perfect for the high-end prime sector and its complex needs, allowing it to flourish in what is becoming an increasingly marketplace, now and in the future.
“Looking ahead to 2024, there are some really large mobilizations taking place, which will make it a very interesting sector to be involved in,” highlights Andrew. “There’s also plenty of exciting opportunities coming through too, that we’re keen to capitalise on.”
“From my point of view, we’re going through a strong period of growth, so we’re focused on ensuring the consistency of our service remains high,” adds Jodie. “This will mean that we can keep delivering the service that our clients need and expect.”
Even with the award recognition and general commercial success that LRM Prime is enjoying, the company is refusing to rest on its laurels and another year of progress looks on the cards in 2024. Further industry accolades can’t be ruled out either.