Enabling the execution of real estate debt solutions with a focus on development & bridging finance across a variety of asset classes.
🏗️🔍🏢 𝐔𝐧𝐜𝐨𝐯𝐞𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐟 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 🏢🔍🏗️ In the world of construction, the "bones" of a building, or concrete in this case, are a crucial element, holding up the dreams and aspirations of countless homeowners / renters. Recent news about Bellway Homes discovering a "design issue" with the reinforced concrete frame of an apartment scheme in Greenwich, London, brings to light an important reminder.: 𝐐𝐮𝐚𝐥𝐢𝐭𝐲 𝐌𝐚𝐭𝐭𝐞𝐫𝐬 𝐌𝐨𝐫𝐞 𝐓𝐡𝐚𝐧 𝐄𝐯𝐞𝐫 It's been 12 years since the project was completed, but this discovery raises questions about quality assurance and overall thoroughness in its design and construction. As professionals in the development industry, this incident invites us to reflect on a few key points: 1. 𝐓𝐡𝐞 𝐎𝐧𝐠𝐨𝐢𝐧𝐠 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐨𝐟 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐫𝐬: A building's life extends far beyond its completion. Developers have a moral and legal responsibility to ensure the safety and longevity of their projects. Quality assurance and regular inspections are non-negotiable. 2. 𝐓𝐡𝐞 𝐈𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐜𝐞 𝐨𝐟 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲: In an age where transparency is highly valued, how a company handles such problems matters. Bellway's willingness to admit the problem and address it whilst simultaneously seeking recoveries from the parties involved is a lesson in corporate responsibility. 3. 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐨𝐮𝐬 𝐈𝐦𝐩𝐫𝐨𝐯𝐞𝐦𝐞𝐧𝐭: The construction industry is a collaborative effort, with multiple stakeholders involved. Learning from such incidents and sharing knowledge is essential for the entire sector to grow and evolve. What do you think? Interested to hear your thoughts below!
National housebuilder Bellway Homes PLC has discovered a “design issue” with the reinforced concrete frame of an apartment scheme built 12 years ago in Greenwich, London. Find out more here: https://lnkd.in/eVJ_upi3
