1. What is the Right to Manage (RTM)?

The RTM is a legal right under the Commonhold and Leasehold Reform Act 2002. It allows qualifying leaseholders to take over management responsibilities from the freeholder or their managing agent by forming an RTM Company.

2. Why is New Capital Quay forming an RTM Company?

To give leaseholders more control over how our development is run - including decisions about service charges, maintenance, and the overall standard of care. It’s a move toward leaseholder-led, transparent, and cost-effective management.

3. How much does it cost to join?

Nothing — it is completely free to become a member of the RTM Company. By joining, you help strengthen the collective voice of leaseholders and move us closer to better

oversight and resident-focused decisions. RTM may also lead to lower service charges and may increase the resale value of your property.

4. Who can join the RTM Company?

All qualifying leaseholders can, and are encouraged to, join the RTM Company.

5. What are the benefits of RTM?

Greater Control – Leaseholders make key decisions about how buildings are managed
Transparency – Clear oversight of budgets, service charges, and maintenance
Cost Efficiency – Ability to appoint better-value contractors and agents
Accountability – Decisions are made by people who have a stake in the property
Improved Communication – A stronger collective voice and quicker action on issues

6. What does becoming a member involve?

Becoming a member shows your support for the RTM Company and gives you a say in the management of your building. There are no financial commitments, and no ongoing responsibilities unless you choose to be more involved - such as attending meetings or becoming a director.

7. Will this affect my lease or ownership?

No. Your lease and property ownership remain exactly the same. RTM simply gives leaseholders control over management decisions.

8. Will the RTM company replace the current managing agent?

Yes. Once the RTM process is completed, the RTM Company will have the legal right to appoint a new managing agent. The current agent, Galliards Estate Management (acting for freeholder Roamquest) will be replaced by the Pinnacle Group, which has been selected by the RTM company. Pinnacle Group will manage the development under the direction of the RTM Directors, all of whom are leaseholders at New Capital Quay, for an initial term of 364 days.

Every year, the RTM Company will have the option to either appoint a different managing agent or extend Pinnacle Group’s contract for a further 364 days.

9. Who manages the RTM Company?

The RTM company is led by a board of directors, all leaseholders at New Capital Quay. They act in the best interests of the wider leaseholder community, supported by professional advisers as needed.

10. Can I help beyond becoming a member?

Yes - if you'd like to be more involved, you can:

Stand as a director
Join working groups or committees
Attend meetings and stay engaged

Leaseholders queries

We hope the following will help answer most common questions leaseholders have sent to the RTM company. It’s designed to provide clear, straightforward information about our role, plans, and how we work on behalf of all leaseholders at New Capital Quay. We are constantly updating it and adding new questions as they arise.

Q: Could GEM challenge the RTM process, and if that happens, could Pinnacle withdraw? If so, who would cover the costs?

A: Pinnacle is not the applicant for the RTM – the applicant is the New Capital Quay RTM Company, which is made up of resident leaseholders. Pinnacle is simply the managing agent chosen by the RTM company.

Roamquest Ltd. (the freeholder - fully owned by Galliard) can challenge the RTM, but under current law such disputes are now heard at the First-tier Tribunal rather than the County Court. Importantly, following the Leasehold Reform Act 2024 (effective 3 March 2025), the freeholder cannot recover their legal costs from leaseholders in these cases. This change was introduced specifically to make it easier and less risky for leaseholders to achieve RTM.

Under the Commonhold and Leasehold Reform Act 2002 and the Leasehold Reform Act 2024, Roamquest Ltd. cannot ultimately block the RTM if the legal requirements are met — they can only delay it temporarily through an appeal.

Q: If the RTM is successful and Pinnacle is appointed, what happens if GEM delays handing over important records such as service charge accounts, contractor information, warranties, or legal dispute files?

A: By law, GEM must hand over all relevant records and documents within three months of the RTM taking effect. If they fail to do so, the RTM company can apply to the First-tier Tribunal to compel compliance.

However, such delays are unlikely. GEM is a member of The Property Institute (TPI), which has strict rules for the timely transfer of documents during a handover. Failure to comply can result in disciplinary action by the TPI, as demonstrated in January 2025 when Firstport was suspended for not transferring records to a new managing agent.

Q: If GEM holds financial records, service charge accounts, or supplier contracts, what legal safeguards ensure a full and transparent handover?

A: Under Section 90 of the Commonhold and Leasehold Reform Act 2002, the outgoing managing agent must hand over all necessary records within 90 days of the RTM taking effect.

In addition to this legal requirement, GEM’s membership in The Property Institute (TPI) means they are bound by strict professional rules. Failure to comply can lead to disciplinary action, as happened in January 2025 when Firstport was suspended by the TPI for not transferring documents within the required timeframe. Such failures can also damage a company’s reputation, leading property developers and clients to withdraw business.

Q: Will major repairs, such as the river wall or replacement lifts, be paid for from the service charge reserve (sinking fund), and will these funds remain ring-fenced during the RTM transition?

A: Yes. Major works are funded from the reserve (or sinking) fund, which is built from leaseholder contributions. These funds are legally ring-fenced for their intended purpose and will remain so during and after the transition.

Once the RTM company takes over, it will manage the reserve fund and oversee planned works. This could include reviewing or changing contractors to ensure better value for money. However, without access to more detailed documentation—which GEM has so far not provided—it is difficult to give a complete answer.

The new RTM company will operate differently by striving to be far more transparent, ensuring leaseholders have clear visibility over reserve fund use, major works planning, and contractor selection.

Q: How will the governance of the New Capital Quay RTM Company work once it takes over management?

A: The RTM Company is governed by its Articles of Association, which set out the rules for how it operates. The board is currently made up of nine directors, including one appointed by Hyde, with all decisions made collectively by majority vote. Once the RTM takes over, it will be responsible for managing services, repairs, maintenance, improvements, insurance, and other landlord functions as defined under the Commonhold and Leasehold Reform Act 2002.

The RTM Company intends to appoint Pinnacle Group as its managing agent on an initial 364-day contract. Pinnacle will act under the board’s instruction and will be responsible for day-to-day estate management, while strategic decisions and oversight will remain with the directors.

The directors are currently preparing a detailed governance framework that will include examples of how decisions will be made, how leaseholders can raise concerns, and how transparency will be maintained. This will be shared with all members so they can clearly see how the RTM is run and how their voices can be heard.

All qualifying leaseholders are entitled to become members of the RTM Company. Membership gives you the right to attend general meetings, vote on key issues, and even stand for election as a director. The Articles of Association outline how to apply for membership and how members can formally influence decisions, ensuring the RTM remains accountable to the people it represents.

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