This is a copy of a report sent to all leaseholders from the directors of THPP for the financial year (ending 24th March 2026). It includes information about the management company budget for the next financial year (2026–27) and an update about the planned remedial works to the building.
Dear leaseholder,
We end the last financial year and begin the new one with some genuinely fantastic news! …something we’ve been working hard towards for 5 years since April 2021.
In the past few days, we have finally received approval from the Building Safety Regulator for our Building Control Applications to remediate the combustible cladding and insulation in both Trelawney House and Piran Place.
Furthermore, last week we also received notice from Homes England that all funding for the works has now been agreed – and yes, that includes funding for the wooden balconies.
All of which means that today the directors were able to sign a contract with our principle contractor, Classic Builders Ltd., that will allow them to begin the works on-site.
So what now? … the next 12 weeks will see a lot of activity behind the scenes, including the submission of a Temporary Traffic Redirection Order (TTRO) and consultation with local public services as well as a ‘mobilisation period’ whereby the materials required can be ordered and stored. But most importantly, this means we now have a start on-site date!
Monday 22nd June 2026 – will be the day that the cones go out and the scaffold starts to go up.
Before then, we will be holding a meeting (date and location to be confirmed) for all leaseholders and residents to meet our principle developers, principle contractors, and to view the plans and schedule of works. As soon as we have details of when this will be, all leaseholders and residents will be invited to attend.
At this point, I think it’s important to point out that none of this would have been possible without the many, many hundreds of hours of unpaid work put in by us as the directors of THPP, as well as the incredible support we’ve been given by Plymouth Block Management, our principle developers Bailey Partnership, our principle contractors Classic Builders, and the numerous other contractors and sub-contractors, on whose expertise we’ve relied, over the past 5 years.
We’re enormously grateful to everyone involved for helping us get to this important stage.
THPP Budget 2026–27
Once again, we’ve worked hard with the team at Plymouth Block Management and our independent accountants Foster Seechurn Morgan to prepare a budget for the forthcoming year that meets all the expected expenses.
You’ll receive a copy of the budget with this report and you’ll also see below a pie-chart showing a visual breakdown of the costs for easy reference.
Some things that we’d like to point out:
1. Building Insurance – once again we’ve seen an increase in building insurance over the past year. Whilst this has become unsurprising, it’s always disappointing that under-regulated elements of the private sector continue to profiteer from the cladding crisis. It’s very difficult to further offset these increases, but we’ve done our best to try.
2. Reserve funds – due to an increase to our reserve funds over the last year, we’ve been able to start doing some of the long-overdue repairs and maintenance works to other areas of the building, such as remediating the front doors and cleaning the blocked gutters and downpipes. So in addition to the external works this year, you’ll also be seeing a number of updates inside.
3. Electricity – but this has been a big issue in the news recently with the sudden situation in the middle east likely to affect energy prices towards the end of 2026. For now we’ve budgeted based on the past 12 months and we have a fixed-rate deal with Octopus Energy for both TH and PP until October. Unfortunately it’s impossible to predict exactly what will happen after that, but we should at least have reserves in place to cover any price shocks during the winter months.
4. Other costs – whilst we have managed to make some savings, there are some other additional costs including increasing the frequency of lift servicing (due to the age of the lifts), some additional legal costs relating to the ongoing litigation to fund the atrium repairs – more on that soon – and an increase to costs for fire door inspections as we’re trying to meet new regulatory requirements here.
On that final point, there may be additional expenses to some leaseholders for remediation to individual apartment front doors but, in accordance with the lease agreement, we as the management company aren’t able to fund those through the maintenance charge. So they have not been included in this budget. Leaseholders affected will be contacted in due course.
All of which means that there will be a very slight increase to the maintenance charge this year of approximately 1.2% – which is below CPI inflation of 3.0% over the past 12 months.
So the median average monthly Service Charge will now be:
| Trelawney House | Piran Place | Car Park |
| £170.71 | £172.05 | £6.70 |
These figures are just an average and vary according to each apartment’s size.
So PLEASE check your next quarterly invoice carefully and remember to make an adjustment to any monthly or quarterly Standing Order you may have to ensure that you’re paying the correct amount.
And PLEASE contact Plymouth Block Management as soon as possible if you have ANY concerns about paying or ever find yourself in arrears – they’re there to help.
Our new website
As part of new legislation for all management companies to provide a ‘Residents’ Engagement Strategy’ we now have a single point of information and contact going forwards by means of our new dedicated website.
You can access the new site at: www.thppmanagement.co.uk
Leaseholders will still receive important messages via email and post, but the aim of the website is to provide more information on a day-to-day basis in an accessible and easy to understand format – this will be especially beneficial for tenants who are not leaseholders and sometimes miss out on information.
There are still a few bits to finish off, but we’ll be adding more information in the coming weeks and months. And we’ll obviously be adding as much information as we can about the cladding remedial works throughout the project.
And Finally …
We’d like (as always) to remind everyone that we (Greg and Judith) have been running the management company for most of the last 11 years on our own and would like other leaseholders to get involved.
It’s an exhausting job for just 2 people, especially as there are at least 30 other individuals or organisations that own leases here and could offer to help.
We understand that everyone has their own lives and probably not a lot of time to spare, but we’ve got lives too and an extra pair of hands (or more!) would make a huge difference in giving us some of our time back.
There will come a time soon when we will both be stepping down or moving away.
So if you’re interested in becoming a director and helping to lighten the load then please contact us through the website to register your interest.
Best wishes,
Greg Matthews & Judith Pollard
THPP Directors
THPP Budget 2026–27
Total charges for the financial year 2026–27
| Trelawney House | Piran Place | Car Park | TOTAL |
| £50,514.50 | £52,263.38 | £3,699.82 | £106,477.70* |
* This figure includes approx. £13k in taxes (inc. IPT and VAT)
Reserve fund and sinking fund charges for the financial year 2026–27
| Trelawney House | Piran Place | Car Park | TOTAL |
| £4,796.20 | £5,543.80 | £160 | £10,500 |
NB: Shared-owners are charged additional fees based on their shared-lease agreement.
THPP have nothing to do with this fee as it is applied by, and paid to, Ocean Housing.