MONTAGUE HOUSE & ALBERT HOUSE
Project Rescue, New Build
Main Contractor
£3,700,000
PROJECT SUMMARY
Stepping in to assist a HNW client with a distressed project, having suffered from a sophisticated fraud at the hands of the previous contractor, we stepped in to take over the project at the first fix stage.
The development consists of two 3 storey residential buildings which house a total of 56 residential units, with a large interconnected car park on the ground floor and raised slab on which there is a children’s play area for residents. JSG’s team immediately took control of the development and built robust relationships with local authority stakeholders and began working on assisting our client on an exit strategy.
Operating with our usual transparent approach, we helped to our client avoid a loss on the project despite having been the victim of a sizeable fraud, and exit the project with a relatively small profit.
PROJECT HIGHLIGHTS
The previous contractor had sat on the project for around 2 years, doing very little work and exploiting the fact the HNW client was based in the UAE.
Weatherproofing was not completed in the project prior to the first fix, as such no windows were on site and this caused extensive damage to exposed wooden beams and mould on the plaster. Significant remedial works and specialist remedial works were fully managed by JSG to complete the project on time and on budget.
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