Iconic 147-metre skyscraper in London to be managed by Principle

Strata Building located in the London Borough of Southwark

Principle Estate Management has won a prestigious contract to look after a world-famous skyscraper in London that was once named “The Lipstick” by former prime minister Boris Johnson.

Strata SE1 is a 43-storey building which stands at Elephant and Castle, in the London Borough of Southwark, and has more than 1,000 residents living in its 408 apartments.

At the time of its construction in 2010, the 147-metre property was London’s tallest residential building and the first building in the world to have three wind turbines as an integral part of its structure.

Principle’s full management consultancy role came after a full tender by the Strata SE1 Management Company Ltd.

The new contract means that Principle, which now has 60 staff, is managing more than 11,000 units at more than 300 developments across the UK.

Thomas Young, Principle’s senior property manager in London, will lead the management of Strata SE1 from Principle’s new London office on Eastcastle Street in Fitzrovia.

Mr Young said: “This is an iconic building, and so it is only fitting that it continues to push boundaries, now with a new approach to management.

“Our working relationship was forged in the early years of my career, and now with the backing of Principle Estate Management, I will further drive efficiencies, provide support and expertise to the board.”

A spokesperson for the Resident Management Company added “We now look forward to working closely with Thomas Young and Principle to make sure Strata SE1 remains a one of the best places to live in London.”

Joe Jobson, joint managing director of Principle, added: “It is great that we have been trusted to be involved with such an iconic building within our capital, and it reflects the hard work we have put into growing Principle within London.

“It’s an area of the country where we continue to see considerable growth, which has driven our requirement for larger premises within the city.”

Strata SE1 was completed in 2010 and was declared as Londoners' fifth favourite tall building in an Ipsos MORI poll in March 2014, ranked behind 30 St Mary Axe, also known as “The Gherkin”, The Shard, The Leadenhall Building, also known as “The Cheesegrater” and Canary Wharf.