Brewery Square – a major multi phased development on an 11 acre site creating a vibrant new quarter in the heart of Dorset’s county town.
Propitas were originally commissioned by Resolution Property in September 2010 to undertake due diligence on a purchase and JV venture with Waterhouse for Brewery Square.
This led to providing project monitoring services initially to Resolution and subsequently to BLME when development finance was secured in a dual monitoring role capacity protecting both the fund and banks interests.
Phase 2A comprised 64 apartments, a Premier Inn hotel, an Odeon cinema, shops and restaurants.
We were heavily involved in the project attending all design, contract and project meetings throughout the 2.5 year construction of Phase 2A, signing off and approving all drawdown applications.
The total project value was circa £30m.
HOW PROPITAS ADDED VALUE
More than a simple project monitoring role purely signing off expenditure, Propitas were able to become fully integrated with the project and team to have the knowledge to contribute throughout the development.
We were widely regarded by Resolution as their “eyes and ears” on the project sitting alongside the existing inherited consultant team.
Based on this integration and knowledge we provided detailed monthly monitoring reports, advising on more than just expenditure including design development, progress and programme, quality and associated site wide issues.