Apart from prospective occupiers, other parties have an interest in a development being constructed by a third party developer – particularly the funder/investor. This interest may be short term during a loan of capital for the development which will be repaid with interest once the scheme is complete and sold, or may be the longer term interest of an investor to whom the ownership of the scheme will be transferred once completed.
BSPM can offer :
- Agree requirements of client as determined by funder/investor's interest
- Review information provided by the developer to ensure that the design & specification is appropriate for the scheme
- Agreeing specifications & drawings to be attached to legal documentation
- In conjunction with client's solicitor, advising upon Agreement, Warranties, Building Contracts, etc.
- Ensuring that site investigation, contamination reports, etc. have been completed
- Monitoring developer's design phase to ensure compliance with agreed specification
- Ensuring that all necessary statutory consents have been obtained and conditions satisfied
- Advising the need for, and co-ordination of specialist consultants, as may be required (e.g. M&E)
- Monitoring progress and quality of works and reporting against programme
- Examining material information arising out of the building contract including selection/approval of finishes and agreeing proposed Variations
- Representing client at practical completion (which may be the end of a funder's interest or the trigger for completion of investment purchase) including snagging and co-ordination of as-built information
Basis of Fees
Fixed fee, time charge or percentage to suit the particular project, reflecting size, duration and scope of monitoring role required.