A PROPERTY management firm has sparked an economic crime investigation. 

Initiative Property Management, based in Branksome, is under investigation for fraud by the police. 

Dorset Police has said it has received “a number of reports” relating to the company, which operates in the BCP area and parts of the south. 

An archived version of the IPM website from March this year states: “Our flat management/apartment management portfolio of clients stretches across Weymouth, Bournemouth, Boscombe, Westbourne, Poole, Christchurch, New Milton, Axminster, Southampton & Salisbury.”

Detective Inspector Andrew Kennard, of the Economic Crime Unit, said: “It is the early stages of our investigation and preliminary enquiries are underway. 

Salisbury Journal: IPM offices in BranksomeIPM offices in Branksome (Image: Daily Echo)

“We are keen to hear from anyone who thinks their property management company may have been affected. 

“If you would like to report a matter to Dorset Police, in the first instance please can you find out whether a report has already been made in relation to your particular location to ensure only one report is submitted for each management contract.” 

Our sister paper The Bournemouth Echo has received multiple reports of residents and property owners paying the company thousands of pounds for services, however, they have been unable to contact anyone over recent days. 

Read more: Poole: Initiative Property Management ceases trading

An email seen by the Echo, and sent by a manager earlier this week, said that IMP had ceased trading “with immediate effect” on Monday, September 18. 

It adds: “We understand the accounts have been frozen, we would therefore suggest no further payments are made to the client accounts going forward.” 

Anyone with information is asked to contact Dorset Police at www.dorset.police.uk, quoting Operation Interest or occurrence number 55230141924.  

Alternatively, independent charity Crimestoppers can be contacted anonymously online at Crimestoppers-uk.org or by calling Freephone 0800 555 111. 

Offering residential block and building management, IPM managed 2,144 flats and apartments – or 175 blocks, in March.  

According to an automated message on the company switchboard, it is regulated by the Financial Conduct Authority (FCA), which the Echo has contacted.