The RTM Company
How Sovereign Quay is run by its own leaseholders through the Right to Manage.
What is Right to Manage?
The Right to Manage (RTM) was introduced by the Commonhold and Leasehold Reform Act 2002. It gives leaseholders of a building the statutory right to take over the management of that building from the freeholder, by setting up a dedicated RTM company.
Exercising the Right to Manage does not change who owns the building; it changes who makes the decisions. Through the RTM company, leaseholders take responsibility for services, repairs, maintenance, insurance and the overall management of the building.
Why it matters
- Control: decisions about contractors, services and priorities are made by residents, not a remote freeholder or their agent.
- Value: service charge money is spent on what genuinely benefits the building, with full transparency.
- Accountability: the directors of the RTM company are leaseholders themselves and answer to the members.
Sovereign Quay RTM Company Limited
Sovereign Quay RTM Company Limited is a company limited by guarantee. It exists solely to manage Sovereign Quay and does not trade or make a profit. The company is run by a board of volunteer directors, all of whom are leaseholders.
The company is registered at Companies House under company number 10502443, with its registered office at 349 Royal College Street, London NW1 9QS. You can view the company record on Companies House.
The current directors are Diane McCrea, Ryan Osborne and Brett John, all resident leaseholders and unpaid volunteers.
The managing agent
The directors appoint Ringley Wales & West, based here in Cardiff Bay, to handle the day-to-day management of the building. Their details are on the contact page.
The freeholder
The freehold of Sovereign Quay is owned separately by Proxima GR Properties Limited, with ground rent administered on its behalf by Estates & Management Limited. The freeholder plays no part in day-to-day management, which sits with the RTM.
Becoming a member
Every leaseholder at Sovereign Quay is entitled to become a member of the RTM company. Membership is free and gives you a vote at general meetings, a say in how the building is run, and the ability to stand as a director. If your flat is owned jointly, you and your co-owners join together. The only financial commitment is the standard £1 guarantee that applies if the company is ever wound up.
Joining takes a few minutes: download the membership application form, fill it in, and email a photo or scan to the directors, or hand it to any of us. If you'd rather we send you a copy, just ask.