On The Waterfront
There’s a sea of change at Palms Properties as founder Pat Lowe hands over the reigns to Leigh Ryan and Andrew Fielding
It’s been 15 years since Pat Lowe started Palms Properties in Brighton Marina. Back in March 1997 she formed the company with her husband Michael. From that point, Pat has been responsible for creating a company specialising in Marina properties in every sense. It is a company that is well respected too, by both clients and industry colleagues.
Fifteen years on and happy with what she and her company have achieved, Pat has made the decision to retire. “I have no real plans as yet but I want to enjoy my new home and special time with Michael, our little dog Chica and friends. I will see what the year brings before I make any major decisions,” Pat says. “I certainly don’t see this as a conventional retirement; there are lots of things I want to do and I will probably be busier than ever.
“Having made the decision, I was also determined that I wanted the company to continue to be run to the same standard and in the same way. I am very proud of what I have achieved and being confident that it was in safe hands was very important to me.
“Fortunately Leigh Ryan joined the company as manager back in 2006. Leigh has been invaluable and I am delighted that he has chosen to take on the business after my retirement. I am equally delighted that he will be joined by Andrew Fielding, as partner, who originally joined us in March 2011 and has worked in estate agency locally for many years. Between them they have a wealth of property experience. I had approached Leigh about my retirement a while back and after discussion of my long plan I felt confident that this was the right way forward, that he understood what I had created, and that he would keep the team in place. This was the ideal progression.”
Andrew joined Palms to get a taste of the business, knowing that in the long term he and Leigh planned to form a partnership and take over after Pat’s retirement. He joined with experience in both sales and lettings but he also wanted to get a handle on the holiday let market. Pat and Leigh were delighted to have him join prior to the take-over so that he could get a real feel for the business which is unique in so many ways.
“I felt confident that this was the right way forward, that Leigh understood what I had created and that he would keep the team in place. This was the ideal progression”
Whilst many property firms will focus solely on sales, lettings or holiday lets, Palms Properties do all three, but with the proviso that they are Brighton Marina properties. It is a clarification that gives them a specialism. It keeps them focused and at the top of the game down at Brighton Marina.
“We have a few who have followed what we do but not to the same extent.” says Leigh. “As a company we divide clearly into property management and lettings one third, sales one third and holiday lettings the final third. The team each has a specialised area of responsibility but we can also all help out when back-up is needed in a different department. It is very important to us that our focus remains on the Marina.
We are the oldest established Marina property agent dedicated solely to Brighton Marina. It’s a popular holiday let destination. We have lots of return holiday guests too and in recent years many visitors from overseas. All of the apartments we represent are rated four star with Visit Brighton and all have one allocated parking space, a real plus in a city. We are also lucky that Brighton is a visitor destination 12 months of the year. We have holidaymakers throughout the summer months but we also benefit from 12 months of business conferences of every scale from small to international and many conference attendees prefer a private let.
“The Marina also has great transport links; it’s easy to access by by-passing the city centre, there is parking and the bus service to the centre of the city is superb.There is also a wide range of facilities on any holdaymaker’s doorstep, from gyms, bowling and a casino to restaurants of all kinds and at all prices. And we must not forget the unique draw of the Marina with its very popular boating community. “Holiday lets also have a further use. They can offer great short lets for people between homes or people who want to move here and then get a feel for the city before committing to a purchase.”
Over the last 15 years Brighton Marina has continued to grow, especially with residential property. “There will be further development and there will be growth I am sure,” says Andrew. “Some of the planned projects that were started before the economic downturn have been on hold but definitely not shelved. There is both the space and the intention for more in the future.”
Property management forms a third of the company and Palms Properties see this as being key to their success. With some of the properties they manage also forming part of their letting and holiday let portfolio they understand the need for high standards of service and maintenance and also dealing with issues at speed. If there is a problem with a holiday let the client will want it dealt with immediately. It is a policy that has their team of contractors always on the ball. “Some of our service providers have been with us for the whole 15 years,” says Pat. “We have lots of return holidaymakers too and in recent years lots of visitors from overseas.”
Palms continues to represent properties for sale in the Marina too. “The sales market is steady but there is currently a shortfall of properties to meet the demand,” says Leigh. “There are investors out there who recognise that Brighton Marina is a good investment both in terms of yield and the quality of tenants we can attract. We are very lucky in that most landlords will listen to our advice and act on it.”
Palms Properties looks like a business with a solid plan. They have the benefit of year round business with the holiday letting business becoming more dominant at the times when the sales market sees a seasonal dip. It must be both satisfying and sad for Pat Lowe to be leaving behind a business that she has created and that has such a strong future. “It is a solid business with a good reputation, and there is no doubt that I am going to miss it,” Pat says. “I don’t think it has hit me yet, it feels like holiday.
I have always loved coming here to work – it’s my baby. But I am very confident that Palms is in the best of hands. I wouldn’t have let it go if it wasn’t to the right people. With Leigh and Andrew at the helm and the team in place I am reassured it will continue to prosper and grow.
“I would also like to take this opportunity to say thank you for all the support that I have had both personally and for the company over the years. I would particularly like to say a big thank you to our long-term clients. They have all become my friends as well as my colleagues and business partners and I have enjoyed my time here very much. I live close by so I will no doubt be popping in from time to time and keeping an eye on things.”
Palms Properties, 25 Waterfront, Brighton Marina, East Sussex, BN2 5WA,
01273 626000, www.palmsproperties.co.uk
