From when the Estate was purchased in January 1978, BAM Estate employed a succession of firms of Managing Agents until, in 1987, the Board again found themselves considering the dismissal of the incumbent Agents for unsatisfactory performance.
The Board considered a number of options and finally decided to employ direct an Estate Manager. They also decided to set up a management company (as a wholly owned subsidiary) to employ the manager and all other employees, with the potential to offer its services for the management of other blocks.
Estate Management (Hampstead) Ltd was incorporated on 6th November 1987.
The directors of the company are appointed by BAM Estate Ltd. They are responsible for preparing the annual Directors Report and Financial Statements.The current directors are Giovanni Carriere, Leon Ellenport and Simon Lebor.
The only regular meeting the directors hold is the company’s AGM which is held within the April Board Meeting of BAM Estate Ltd at which the audited accounts are presented and approved.
The company manages BAM Estate on behalf of BAM Estate Ltd using both its own staff and external contractors and suppliers. The company does not trade on its own account, and therefore does not make a profit.
The relationship between BAM Estate Ltd and its subsidiary, Estate Management (Hampstead) Ltd, is reported in the BAM Estate Ltd Annual Directors Report and Accounts. (Pages 1 and 11 ).