A WORCESTER company has proved it is one of the hottest properties around by being named Best Young Business in the West Midlands.

Mainstay Residential Ltd was awarded the accolade in the Mustard.uk.com awards, a scheme that supports new and young businesses with high-growth potential through consultancy advice and mentoring.

Mainstay Residential, based at Whittington Hall, Whittington, has taken just three years to make its mark on the competitive field of property management services.

The company, formed as a result of a management buy-out, has enjoyed significant growth, especially in the last 12 months, with turnover standing at £1.6m for the last financial year.

Lucrative

The firm, which employs 45 people, has grown through forming relationships with up-and-coming "city living" developers, such as Crosby Homes, Bellway Homes and Urban Splash.

It is currently exploring a number of opportunities with some of the sector's biggest names and has plans to break into the lucrative London market.

Annual growth is predicted to be £350,000, achieved through existing and new clients and the creation of regional offices. Growth has also come through the firm taking on the administrative and financial processes of major letting agencies.

A spokesman for the awards, held on Thursday, in Birmingham, said Mainstay's management team of Glyn Miles, Andrew Tilly and Graham Donaldson, had "clearly demonstrated the importance of providing high-quality and pro-active management services".

The firm was described as "an extremely strong business with excellent people and a strong customer base".

Mr Miles, managing director, said the award was "excellent news".

Exciting

"Our ability to bring value-added services to our carefully defined portfolio of properties has provided us with the necessary infrastructure to tackle exciting new projects, with the main aim of opening additional offices in key locations.

"The Mustard.uk.com award recognises this achievement and will hopefully provide us with an additional marketing tool when tendering for large contracts."

Two other Worcestershire companies were finalists in the awards, both in the Most Innovative Business category.

Desco Research, based on Hartlebury Trading Estate, near Droitwich, has designed an electronic engine control system that reduces car emissions by 25 per cent and fuel consumption by 20 per cent.

ITS software, meanwhile, based on Hoo Road, Kidderminster, has designed a web-based recruitment package for recruitment agencies and human resources managers.