Development Monitoring of Construction for Lenders and Investors

Acting for purchasers, lenders and investors, we audit proposed developments to advise of their likely construction and financial risks, and then monitor them until they are completed

We assess the method of procurement, design and costs presented, and then monitor the development on a regular basis, advising on risk every step of the way

Essentially the role is one of risk management and foreseeing potential issues with a scheme before they can arise. This is especially with regard to financial viability and environmental, supply and contract risks.

Our initial assessment will look at the whole scheme in terms of cost, statutory obligations, works programming/timescales and quality, which only experienced development monitors can have a true view of.

We monitor new build and substantial conversion of all types of properties, particularly commercial, residential and industrial developments.

We can also monitor works for a proposed occupier, to ensure that you have a ‘softer landing‘ when the keys are presented and not left with a long ‘snagging list’ to contend with.

Commercial and industrial development monitoring

Processes

The process of development monitoring typically involves a two-part process – an initial appraisal of the development and then regular inspections to review the scheme as it progresses and to confirm the stage payments to the developer.

If we are acting for a proposed occupier, for example where the landlord is constructing a property to let, we also monitor the development with reference to the lease agreement.

Initial appraisals cover a number of areas, particularly:

Specifications and drawings
Costs
Cash flow
Professional team
Contracts
Programme for the works
Building regulations
Warranties and guarantees
Town Planning
Details of site investigations
Statutory services
Details of Construction Design Management compliance
Insurances
Neighbourly matters
Quality

Subsequent ‘drawdown’ inspections cover much of the above as the procurement progresses and construction issues begin to surface. We particularly focus on quality, cost and programming.