Further expanding their portfolio of work within the housing sector, the Newcastle office of international project managers and cost consultants Faithful+Gould is providing specialist expertise on a prime city centre development in the heart of Middlesbrough.
After undertaking an initial due diligence report of the project, Faithful+Gould is acting as monitoring surveyors on a residential development scheme on Park Road South. The Royal Bank of Scotland has provided funding to property developers J R Properties and instructed Faithful+Gould on the project.
Due to be completed in March 2006, the scheme will comprise a 3 storey development of residential apartments with basement car parking. A mixture of nine one bed and 21 two bedroom apartments, the developer, Middlesbrough based J R Properties, is celebrating that all the apartments were sold to private investors only six months into the project.
Regional director Mike Foggon commented on the scheme: "In order to complete the development as efficiently as possible, we have undertaken a monitoring role on behalf of the Bank as well as providing assistance and support to the developer. I am looking forward to seeing the finished scheme which is on schedule to be completed in March 2006."
The central site which formerly housed St Barnabas Church was demolished for the development early last year will also boast a high specification automatic electro-hydraulic parking system. This will be located under the building which will allow car parking for up to 30 vehicles and will enable the optimum use of the limited city centre site.
Tim Sanderson, director of property finance for the Royal Bank of Scotland, commented on the project: "Our objective was for the development to be completed as efficiently as possible. Faithful+Gould has made this possible through providing a client focused and responsive service which has added real value to the project."
Built using a prefabricated building package, the swift construction of the development is being assisted by a timber frame which will provide the end user with a property requiring significantly less heating that standard dwellings as well as being an environmentally friendly building material.
Kirk Andrews, director of J R Properties, said: "As a local company we are committed to enhancing the standard of residential developments in and around Middlesbrough. The quality and prime location of the site has certainly influenced the apartments’ quick sale."