LSH Project Monitoring Capability Brochure
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The document discusses Lambert Smith Hampton's development monitoring services. It summarizes that they provide monitoring services to protect investors' interests during construction projects by scrutinizing plans, costs, schedules and risks. It gives examples of past projects they have monitored, including luxury apartments in London, an office building in Cambridge, and a distribution facility. Their services include reviewing specifications and costs, monitoring construction progress, ensuring legislative compliance, and providing protection for investors through warranties.
LSH Project Monitoring Capability Brochure
- 1. through Development Monitoring Protecting Expectations The Fund Guaranteeing an institutional saleable asset for maximum return on investment. The Bank Limiting exposure to construction cost, ensuring a product for loan security purposes. The Occupier Ensuring fit for purpose good quality occupational space.
- 2. Whether fund, bank or occupier, it’s 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. We’re lateral thinkers. We’re skilful spotters of opportunity for our clients and we’re highly profit focused. Which is why we are dedicated to finding more ways to add value to our clients property interests. Conversion of 1920’s 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 contractor’s proposals against brief to ensure you’re getting what you’re 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 Results Return on investment increased by 12%. c/o Orchard Street Investment Management 120,000sqft£30m ›› 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 Value Value 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 Scroll over the questions where indicated to find out more about our development monitoring services and where we’ve done it before. A detailed review of specifications, drawings and contractor’s proposals against brief to ensure you’re getting what you’re 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. YOU GET WHAT YOU PAY FOR 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. KEY RISKS? WHAT ARE THE BACK NEXT Interactive roll over Full review of project costs against market norm and identification of value engineering options to support your development appraisal. STACK UP? DOES IT
- 3. 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. £6m Value ›› 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. £8m Value ›› 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 £7.75m Value 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 you’re never over exposed. £10m Value ›› 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-Browne CEO of Home Decor CAN IT BE DELIVERED? PROTECTED? ARE WE LEGISLATION? WHAT ABOUT WATCHING BRIEF Results Results Results Results Interactive roll over 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. WATCHING BRIEF 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. LEGISLATION? WHAT ABOUT BACK NEXT 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. CAN IT BE DELIVERED? 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 you’re never over exposed. PROTECTED? ARE WE
- 4. 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 Brennan Tony Northampton 01604 664 357 abrennan@lsh.co.uk Daniels Richard Northampton 01604 664 359 rdaniels@lsh.co.uk Bates Ian Northampton 01604 664 395 ibates@lsh.co.uk Taylor Gayle Manchester 0161 228 6411 gtaylor@lsh.co.uk Pincott David London 0207 955 8446 dpincott@lsh.co.uk Anderson Jon Leeds 0113 887 6718 janderson@lsh.co.uk Myles Steven London 0207 198 2375 smyles@lsh.co.uk BACK