through Development Monitoring

ProtectingExpectations

Whether fund, bank or occupier, its fundamental to you that projects are scrutinised, understood and monitored to protect your investment. You want to understand risk, whether cost, time or quality and you need to understand what your options are when things veer off track.

At Lambert Smith Hampton we are restless, relentless and reluctant to settle for the obvious. Were lateral thinkers. Were skilful spotters of opportunity for our clients and were highly profit focused. Which is why we are dedicated to finding more ways to add value to our clients property interests.

Conversion of 1920s 8 Storey office into 9 luxury apartments next door to Buckingham Palace

Bank fully advised of the cost required to complete against a shifting cost background, mitigating their risk of financial exposure.

A detailed review of specifications, drawings and contractors proposals against brief to ensure youre getting what youre paying for.

Commentary on flexibility, future proofing and maintenance in use requirements.

Review of design against institutional standards and how this may impact future use.

7.5m

Review of existing steel frame and clay pot floors to determine capability and confirm costs.

Advise to the bank on additional spending to upgrade the specification, matched by increased GDV.

Advice in relation to knock on delay from splitting contracts between shell & core and fit out, to ensure quality runs through.

Full review of project costs against market norm and identification of value engineering options to support your development appraisal.

Results

ResultsReturn on investment increased by 12%.

c/o Orchard Street Investment Management

120,000sqft30m

A review of the risk register and the mitigation measures in place by the project team.

Detail on how health and safety is to be managed.

Control of risk throughout. Bankers able to withstand scrutiny from credit on control measures in place during construction from our detailed monitoring reports.

80m

Graham French

In all of these years I have never received the level of understanding, support and flexibility as I have on this project, an absolute pleasure to deal with.

Metropolitan Police

The Occupier

John Asplin

The service provided by Lambert Smith Hampton means that we can get questions answered quickly, can have ongoing dialogue throughout projects to provide clarity and provide quick responses to any issues as and when they arise, without causing project delays or increasing costs.

Relationship Manager, Co-operative bank

The Bank

The Fund

Marcus Langlands-Pearse

The combination of delivering the basics well whilst driving added value initiatives through a team effort produces regular out performance.

TIAA Henderson

STACK UP?DOES IT YOU GET

WHAT YOU PAY FOR KEY RISKS?WHAT ARE THE

Value

ValueValue Size

Results

Identification of a developer lead investment proposal. Thorough review of tendered construction costs benchmarked against market rates.

Review of specification to produce headline cost:benefit analysis, identifying value engineering options to align with development appraisal.

Review of tenants fit out requirements and incorporation to base build to avoid duplication of works.

6-Storey Flagship Office Building in Cambridge

Appointment of a well established construction team with proven track record was key on this innovative landmark project.

Monitoring of robust testing procedures incorporated into the scheme including; load testing and plant cranage.

Detailed review of EFTE installation.

Scrutiny of risk register and mitigation measures reported, ensuring this remained relevant throughout construction.

The Eden Project

Occupiers interests protected from breach of legislation and fully signed off scheme delivered.

Review of all environmental assessments and remediation strategies agreed with the Environmental Agency.

Review of planning consent and conditions attached and measures required for discharge.

Building Control status review.

Consideration to party wall and other neighbourly matters.

6mValue

Complex planning requirements requiring technical design solutions were closely monitored to ensure buildability and robust performance against a compliant solution.

Compliance with Natural England requirements pre-construction to ensure wild bird and bat surveys completed and recommended measures implemented.

Full plans review with building control before construction to ensure no design variations would be required to meet building regulations.

Historic Building Refurbishment to create contemporary student accommodation

200,000sqft distribution facility and associated offices

Fit for purpose, well built, on time and on budget with full suite of construction documentation for institutional investment.

Monthly reviews on site to assess quality of construction and progress against programme.

Discussion on variations and implications to cost programme, quality and risk.

Review of cost status.

Update on issues raised in our initial technical due diligence report.

8mValue

Review of progress of works on site against developers programme and advice when acceleration works needed.

Review of works completed against contractors valuation and drawdown request.

Confirmation of costs required to build scheme out to ensure fund never over exposed.

Review of quality of workmanship on site

Pro-active management of queries raised and compliance with specification.

Update of outstanding information and queries raised in initial technical due diligence report through to close out of all issues.

South Yorkshire Pension Authority

120,000 sqft manufacturing facility including 20,000 sqft of offices

Completed facility delivered on time within tight timeframe, avoiding financial and operational penalties for the client if former site was not decommissioned in time.

Discussion around the procurement method chosen and what this might mean for you.

A review of construction programme to ensure it is realistic.

Comment on the project team, their experience and credentials.

Procurement review undertaken with 2 stage tender process recommended to achieve mobilisation quickly.

Identification of a contractor with proven track record and credentials in building a facility of this kind.

Negotiation of fixed price contract through collaborative working.

Critical Path identification allowing project progress to be closely monitored and measures implemented to meet key milestones.

Home Decor

7.75mValue

Everybody at Home Decor joins me in offering our sincere thanks for all of your efforts in helping bring this project to a timely conclusion.

64 Apartments close to the Olympic Stadium, Stratford

Full protection afforded to the bank during construction in the contract and afterwards with institutionally acceptable suite of warranties.

Commentary on contract conditions and the benefits of these to you.

Details of Warranties being provided and the protection afforded to you.

A review of cash flow forecast against programme to ensure youre never over exposed.

10mValue

Scrutiny of construction documentation, in particular design solutions for substantial concrete cantilever and balcony construction.

Detailed review of construction contract and negotiation of step in rights for funder.

Review of warranties and protection afforded, ensuring that warranties reflected appointment documentation leaving no gaps in responsibility.

Max Crosby-BrowneCEO of Home Decor

CAN IT BE

DELIVERED? PROTECTED?ARE WE

LEGISLATION?WHAT ABOUT WATCHING

BRIEF

ResultsResults

Results Results

Interactive roll over

At Lambert Smith Hampton we have 34 specialist project monitoring surveyors covering the

length and breadth of the UK and Ireland. If you would like further information or to discuss

a requirement please contact one of our key contacts below.

Contact

The North

Central

South

BrennanTony

Northampton01604 664 357abrennan@lsh.co.uk

DanielsRichard

Northampton01604 664 359rdaniels@lsh.co.uk

BatesIan

Northampton01604 664 395ibates@lsh.co.uk

TaylorGayle

Manchester0161 228 6411gtaylor@lsh.co.uk

PincottDavid

London0207 955 8446dpincott@lsh.co.uk

AndersonJon

Leeds0113 887 6718janderson@lsh.co.uk

MylesSteven

London0207 198 2375smyles@lsh.co.uk

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