Ensuring comprehensive coverage and navigating cost adjustment, London Belgravia Group (LBB) successfully placed the structural warranty for Chelsea Riverview, a prestigious residential development on the banks of the River Thames. Commissioned by SMC Property, the development includes 110 luxury apartments, and two commercial units spread across ten storeys. With panoramic views of London’s iconic skyline and the Thames, the project offers an unparalleled living experience and is now approaching its completion phase.
Project overview:
Developer: SMC Property
Location: Imperial Wharf, SW6, Fulham (on the River Thames)
Size: 10 storey residential development with 110 apartments & 2 commercial units
Timeline: October 2022 – December 2024
Sales: On the market with JLL with prices between £699k and £2.6 million
With an impressive portfolio of luxury developments, SMC Property is known for its meticulous attention to detail and high-end craftsmanship, qualities exemplified in the Chelsea Riverview project.
Situated on the banks of the River Thames in Fulham, Chelsea Riverview is a prestigious ten-storey residential development featuring 110 desirable apartments, each with private outdoor space and stunning views. Combining modern urban living with luxurious amenities, the development is strategically located near Imperial Wharf, offering excellent access to central London.
For this project, SMC Property partnered with LBB to serve as independent brokers for the structural warranties, ensuring comprehensive coverage and streamlining all insurance requirements throughout the build and certification process.
Exceptional warranty coverage and adjusting for rising costs
LBB sourced and secured a competitive and A-rated warranty, ensuring comprehensive coverage for the development. By collaborating closely with SMC Property, the team sourced multiple quotes and favourable payment terms.
LBB’s involvement went beyond just placement. The team supported SMC in navigating significant cost adjustments, with the sum insured rising due to unforeseen material cost increases. Throughout the build, LBB provided constant support, handling the necessary adjustments with underwriters and ensuring the client’s evolving needs were met efficiently.
Laura Gerokostas, Head of Development at SMC Property, praised LBB’s dedication to managing the complexities of the warranty and insurance process. She noted, “LBB liaised with us throughout the build, offering critical support and confidence as we went through challenging circumstances on the project. Their commitment to securing the best possible terms and adjusting our coverage when needed was invaluable in keeping the project on track.”
LBB’s involvement in the Chelsea Riverview project was pivotal to its smooth progression. Its tailored approach helped the client navigate the challenges of rising construction costs, secure favourable payment terms, and ensure the project remained adequately covered. As the project is now in completion, LBB’s team is actively supporting the process of signing it off. By acting as a trusted partner, LBB instilled confidence in the developer, allowing them to maintain momentum across the entire duration of the project.
Ellie Farrell, Principal Consultant at LBB, reflected on the company’s role, sharing: “Our involvement in the Chelsea Riverview project from the earliest stages was crucial in ensuring the developer had the right warranty coverage, especially as the project evolved. We also navigated significant build cost adjustments and provided continuous support throughout the build. By securing the best terms and managing unforeseen challenges, we helped the client maintain momentum and confidence as they approached completion.”
For developers looking to secure the right structural warranties and associated insurance for their upcoming projects, London Belgravia Group provides expert guidance and tailored solutions.
Get in touch with Ellie Farrell, one of our Principal Consultants, to discuss how we can support your next development.
