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CHALLENGE
Our client was providing substantial development finance with UK track record. Due to various challenges, the programme was significantly delayed beyond the PC date stipulated in facility agreement and therefore our client’s internal compliance.
SOLUTION
Full building refurbishment to provide 123-bedroom five-star hotel and high-quality residential developments comprising of 85 serviced apartments.
RESULTS
Savills carried out detailed reporting, due diligence and risk assessments at various stages of the project and to validate the sponsors request for additional funding. We ensured the client was able to satisfy their internal compliance without detriment to on-site progress (i.e. delays to funding).