Securing lending against an existing property is one thing, but borrowing against a property or development that does not yet exist involves a whole extra layer of risk.
It is for this reason that many lenders and investors choose to instruct a Development Monitoring Surveyor to oversee and report back on the progress of a development.
Combining Building Surveying and Project Management expertise, Lea Hough are able to act as Development Monitoring Surveyors on projects across the North West.
We have an excellent track record of work in this area, having acted in this capacity to monitor new-build residential housing projects, commercial building projects and conversion projects to existing buildings.
Here are some examples of projects we have been involved in as Development Monitoring Surveyors:
- Pennington Gardens, Higher Bartle, Preston – new-build housing estate of 13 No. new dwellings. Our role was on behalf of lender (a major bank). The developer/housebuilder was Pringle Homes. https://www.pringlehomes.co.uk/development/pennington-gardens-higher-bartle/
- Sherwood Court, Lostock Hall, Preston – new-build housing development of 3 No. new dwellings. The lender who appointed Lea Hough was a bank. The developer/ housebuilder was JK Beardsworth Limited. https://jkbeardsworthltd.co.uk/projects/sherwood-court/
- Bowland Gardens, Lower Lane, Freckleton – new-build housing development of 11 No. new dwellings. We monitored the development on behalf of the bank. The developer/ housebuilder was JK Beardsworth Limited.
- Gleadhill View, Euxton – Three separate new-build bespoke houses, each under a separate lending agreement. Our role was on behalf of the lender. The borrowers were 3 No. private borrowers each with their own contractor.
- Pownall Farm, near Knutsford – Barn conversions and development to create five new residential units. The lender was a private lender. The developer was Cranford Estates. https://cranfordestates.co.uk/portfolio-items/pownall-barns-warford-mobberley/
- Farm at Woodplumpton – 1 no. new-build house. The lender was a bank. The borrower was a private client.
- House at Wiswell, Whalley – Extensions and refurbishment of an existing prestigious dwelling. The bank appointed Lea Hough to oversee the project and their borrower was a private client/developer.
- New-build vicarage/residential development at Blackpool – Monitoring Surveyor role on behalf of our Diocese client, who were the buyer/investor.
New-build Commercial projects:
- Units 1 & 2, Pendle Court, Nelson – new-build industrial units. We were Monitoring Surveyor on behalf of a buyer / property investment firm. The developer was Pendle Projects Limited.
- Shuttleworth Mead, near Burnley – New-build industrial units. The lenders were via SIPP Trustees / Pension Fund.
- New-build industrial unit at Shadsworth, Blackburn – We undertook the role of Monitoring Surveyor on behalf of the buyer / investor of industrial units.
- New-build office buildings at Euxton, Chorley – development monitoring on behalf of property investor/commercial property Landlord.
- Farm at Bilsborrow, near Garstang – a dwelling that was part new-build and part barn conversion. The borrower was a private client and we were the Monitoring Surveyor on behalf of the lender.
- Barn conversion at Hoddlesden, Darwen – fit-out/completion of a barn conversion. The bank appointed Lea Hough to oversee the project and their borrower was a private client/developer.
- Barn conversions at Dinckley in the Ribble Valley – conversion to residential dwellings. We were appointed as the bank’s Monitoring Surveyor.
- Whitechapel in Lancashire – fit-out/completion of an agricultural building conversion. The lender was a bank and the borrower was a private client.
- Conversion at Bolton-le-Sands – Monitoring Surveyor role on behalf of Blackburn Diocese, where the former school building was converted into a new Vicarage and residential properties. The developer was Daffodil Homes.
Acting as Development Monitoring Surveyors, we are able to ensure that development work lives up to standard and expectation, therefore protecting the lender’s interests.
The above list demonstrates the breadth of our experience in this area. For more information on our Development Monitoring Service, or to speak to us about a particular project, please get in touch.