Our Building Surveying team delivers a comprehensive Project Monitoring service for banks and other financial institutions. We regularly undertake this vital work on behalf of lenders to ensure that projects (where a loan facility has been provided are delivered in terms of construction quality, programme, budget and statutory compliance) they have loaned money to are in full compliance with their financial responsibilities and statutory duties.
Our initial due diligence review ensures that the developer has properly planned and considered all aspects of the project which in turn will minimise risk, with particular focus on managing budget. Thereafter, the monitoring service continues throughout the construction phase to ensure successful delivery.
Everything we do is designed to add value. We’ll work closely with you to provide a bespoke solution to your specific needs. Our Project Monitoring service includes:
Initial project review
Our initial involvement is designed to determine whether the developer has fully understood the constituent elements involved in delivering the project. This will include having appointed the suitably qualified design team, undertaken required investigations, preparing appropriate design drawings, securing required statutory consents, and finally, establishing a robust financial cost plan with realistic assessment to ensure all aspects of the development cost are covered.
We will prepare a summary report highlighting compliance or shortcomings which require to be addressed prior to the funding being agreed.
During the construction phase of a project we will carry out regular site reviews to assess progress, quality of build and compliance with program and key milestones. We will also monitor costs against the initial budget and provide certification of interim payment applications put forward by the developer, to ensure accurate financial control. Each visit will result in a monthly report being prepared to an agreed format which allows the lender to clearly understand progress and any potential issues which may impact the loan facility agreed.
At the completion stage of a project we will undertake a final review to ensure full compliance with the contract requirements, delivery of necessary statutory authority completion certification and agreement of the final account. This will hopefully ensure final occupation or potential legal transaction(s) are not delayed.
Our Project Monitoring team provide a friendly service and local expertise. Our Surveyors are all highly trained and registered to the Royal Institution of Chartered Surveyors (RICS).
Each of our local offices are fully supported by the resources and expertise of our head office, ensuring the highest standard of service is provided.
We work with our clients as partners and are retained by some of the UK’s most high-profile commercial and financial sector companies. We strive and are committed to providing the same high level of service to all our clients, big or small.