Bank Monitoring Schemes
A snapshot of some of QSetc's ongoing and recent Banking Monitoring projects, where we visit the development site on a monthly basis to evaluate construction progress, with a subsequent report to the lending institution.​ Mark is often asked by Lenders for his professional views on elements of these and other developments that the Lender is considering funding.​ Other Bank Monitoring projects are in the pipeline, subject to funding approval by the Lenders and Mark is working on behalf of Ward Williams for some projects, to provide consistency to the Lender, over the lifetime of those projects. The development values of the projects we monitor, range from £1.5 million to £40 million and the borrower part funds their developments through loans from construction development lenders.
Development Location: Solihull, West Midlands
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Development Value:
£1.5 million
The Development:
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The repair and refurbishment to retail and residential units , and the public areas at St John's Way Shopping Centre in Knowle, Solihull.
The works include internal fit-out, signage and facade replacement to the retail units, together with window treatments and/or replacement.
In addition, there are some demolition works, with the removal of five garages.
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There was a historic planning consent for the scheme, and a new application has been submitted to make adjustments to this original scheme.
COMMERCIAL/RESIDENTIAL - REFURBISHMENT
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QSetc Role
Monitoring Surveyor
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Project Date
Ongoing since May 2024
​Monitoring the repair and refurbishment to retail and residential units and the public areas of this shopping centre, in respect of build programme and build cost and reporting to the Lender (Hodge Bank).
The provision of an Initial Report outlining full details of the Scheme; the developer, build budget, insurances, and loan facility, followed by regular site visits and reports to the Lender. Ensuring that relevant consents are in place, together with confirmation from the subcontractors that they have been paid for works, prior to recommending the release of monthly funds. Ongoing identification of any risks to the project, as the refurbishment progresses.
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Regular meetings with Hodge Bank to chat through reports/development progress.
PROJECT TEAM:
Client: Hodge Bank
Monitoring Surveyor: QSetc
Developer: Birch Holdings Limited
Main Contractor: Aquarius Real Estate Management​​
Development Location: Swanage, Dorset
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Development Value:
£4.7 million
The Development:
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Following the demolition of an existing dwelling on the site, the development of four semi-detached townhouses; three 3-bedroom and one 4-bedroom.
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The development site is a short distance to Swanage beach, and the upper floors of the townhouses will afford a view out to sea.
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The town itself is within walking distance of the development.
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There have been some negotiations with the Local Authority, with regards to 'right of way' access to the exterior of the development.
RESIDENTIAL - NEW BUILD​
QSetc Role
Monitoring Surveyor
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Project Date
Ongoing since January 2024
Monitoring the development with regards to build programme and build cost to report to the Lender (Hodge Bank).​
The provision of an Initial Report outlining full details of the Scheme; the developer, build budget, insurances, and loan facility, followed by regular visits to site to report on progress and build expenditure, and the identification of any risks to the development.​ Confirmation from the main contractor and any subcontractors that they have been paid for works, prior to recommending the release of drawdown amounts from the loan facility.
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Regular meetings with Hodge Bank to chat through reports/development progress.
PROJECT TEAM:
Client: Hodge Bank
Monitoring Surveyor: QSetc
Developer: Westcoast Developments
Main Contractor: Banyards Construction
Development Location: Box, Wiltshire
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Development Value:
£8 million
The Development:
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A Joint Venture development between Real World and Stonewood of 18 'private' for sale high-quality homes, in the village of Box, Wiltshire. There are an additional two flats which are being constructed for a local Housing Association.
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The development is situated within the Cotswolds Area of Outstanding Natural Beauty.
The mix of two, three and four bedroom homes have all the benefits of a stunning village location about 3 miles from Corsham and 5 miles from Bath.
RESIDENTIAL - NEW BUILD​
QSetc Role
Monitoring Surveyor
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Project Date
Ongoing since Dec 2022
Monitoring the development with regards to build programme and build cost to report to the Lender (Homes England).​
The provision of an Initial Report outlining full details of the Scheme followed by monthly visits to site to report on progress and build expenditure, alongside the identification of any risks to the development.
Recommendation made to the Lender each month for the release of funds from the loan facility, in line with expenditure on site.
PROJECT TEAM:
Client: Homes England
Monitoring Surveyor: QSetc
(on behalf of Ward Williams)
Developer: Real World Properties
Main Contractor: Stonewood Homes
Development Location: Torquay, Devon
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Development Value:
Confidential
The Development:
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The development will provide 22 new houses together with 68 apartments (in three blocks), providing a mixture of one, two and three-bedroom dwellings over 13,750m2.
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A significant element of the works will involve the refurbishment of a mix of Grade I listed buildings on the site into residential dwellings.
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The site is situated in a prime location with views of the sea, along with a private field and woodland area for residents to enjoy.