London Belgravia assisted in sourcing new home warranty insurance for a new build, mixed-use scheme on Dockley Road.
The project comprises of 111 apartments with a ground floor dedicated to retail and commercial use. Of the 111 new homes, 42 have already been forward-sold to a housing association. At street level, 1,100 square meters will be available including three retail units. This commercial space will be leased to Spa Terminus who will sub-let to businesses in the food, retail and wholesale sector.
Construction works started in August 2020 and project completion is anticipated for July 2022. Sales are currently being undertaken by JLL.
London Belgravia was appointed to arrange a new home warranty and a performance bond for the developer, Matching Green.
Insurance and bond expert, Jamie Milne, provided a comprehensive and independent insight about the market and the availability of products most suitable for the project. He also navigated through the added layer of complexities and mandates as stipulated by the housing association.
Jamie obtained commercially attractive quotes, alongside competent and compliant technical services. The project required a collaborative approach between the various stakeholders – the insurer, the housing association and the developer.
Commercial Director, Jack Bristow, commented: “This Dockley scheme had a number of moving parts when it came to arranging the insurance and performance bond. As is often the case, the challenge is ensuring everyone is happy with terms and understands them from their unique perspectives. That is where Jamie excelled himself; managing multiple stakeholders, holding their hand through the process, understanding the nuances of each policy and being able to relate it to each party. This resulted in delivering two products essential to the development agreement.”
London Belgravia Brokers: New Home Warranty Providers
At LBB, we see our role as an independent advisor, who reviews the merits of each scheme to help you make well-informed decisions. Our independence ensures that our experts can give you access to the solutions that best fits your needs without market bias.
All of the warranty providers that we work with are fully compliant with the CML (Council of Mortgage Lenders), backed by A-rated underwriters and we regularly review which warranties meet our standards and the standards of the developers for which we work.