Development Management

Following an Initial Development Report for our lending client, we were pleased to be appointed on a full Development Management basis for the refurbishment of a Grade 2 listed property in Hampshire. This historic house was the security for a defaulted loan and in current condition would leave a significant shortfall on sale for the lender.

A programme of works was agreed with targeted expenditure on the fabric of the building to secure the property both physically and in terms of value. The aim was to add value through refurbishment and improvement of the property and make it viable for sale on the open market rather than as a distressed asset sale.

Waterfold specified, tendered and managed the works directly with a local contractor providing monthly reports to the client alongside quantified valuations. Towards the end of the 5 month project, Waterfold engaged with suitable national estate agencies to agree a sales appointment. The property was dressed and presented for sale with Waterfold quality checking and reporting on the ongoing marketing. Once a sale is agreed the entire process will be managed by Waterfold ensuring a smooth exit for our client.