Since 2021, Rund has been acting as JV Supervisor for Northwick Park, working on the behalf of Vistry Partnerships, and SNG. The work has involved the management and facilitation of discussions between all parties, monitoring processes and progress in line with the wider business plan. Rund has also acted as an arbitrator, mediating between parties, and helping ensure long-term, positive relationships are maintained.

Not just a tick box exercise, Rund’s role has been instrumental to moving the project forward. To date, information provided by Rund has helped to facilitate productive discussions around budget and programme – assisting the JV board in their decision making.

The tools for successful JV

Collaboration and reporting against key project deliverables is important to the success of any JV project – not only in terms of increasing the viability of a project, but also coming together to share skills and combine expertise from across the JV partners.

Depending on the programme, Rund’s Surveyors / Project Managers will take on a variety of work, such as reviewing the design and construction stage to ensure project requirements are adhered to, including the design, specification, statutory requirements, and contractual obligations.

For Northwick Park, Rund has been responsible for developing reporting tools including action / observation trackers, monthly reports and arranging interim meetings. This has kept all partners abreast of progress and has helped to focus attention to any appropriate aspects of the development needed to be presented at board meetings.

Throughout the JV process, Rund has also provided analysis and outputs to help adjust the financial model in a way that is better suited the JV scheme, successfully leading to the JV board and Vistry Partnerships implementing this in the modelling.

Responding to market pressures

Northwick Park has felt the impact of a challenging economic and changing legislative landscape. Having a team adept at being reactive to wider programme changes and external pressures has therefore been an important part of the process. Rund has responded to changes in design requirements from the Building Safety Act and to the budget of the programme for Northwick Park. As a result, the JV board then made the decision proactively to retrospectively amend the designs to include the second staircases.

Securing trust

Done well, JV supervisors can create an environment of trust, accountability, and success for all parties. Importantly, always aiding the effective decision making for the betterment of all JV partners and the project, and never in an unduly way. Rund understands the complete process to achieve success for JV stakeholders and has a proven track record, with the team currently working on leading JV and strategic developments nationwide, totalling over 3,200 residential units.

Rund is continuing its JV Supervisor work with Northwick Park to help bring the first phase of the project closer to completion. Once this phase is complete, Northwick Park will be closer to fulfilling its aims as a landmark destination with new high-quality homes, a modernised university hospital, improved infrastructure and transport connections, as well as enhanced public spaces and facilities for education and employment. Further phases of the regeneration project will continue to eventually provide 1,600 new homes and will also see significant new public amenity space as well as student facilities, commercial space, and a new nursery for local children.

For more information about Rund’s expert JV services, visit here