Rund is working with developer Thakeham and housing provider Abri in a joint venture involving the development of more than 600 new homes.
Project Background
The development, located on a 45-hectare site south of Crawley, is set to build a thriving community and create up to 619 homes over an eight-year period. The site has already seen the opening of a flourishing primary school, and will also provide a home for locally based charity St Catherine’s Hospice, funding for a secondary school, a new village green and community owned shop, and café.
A joint venture project of this nature presents several benefits. Thakeham and Abri are each contributing individual expertise and resources, while sharing the cost of the development of the homes and income streams. Ultimately, this ensures viability for the large-scale project.
The Solution
Our wealth of experience in assisting developers deliver joint venture schemes is helping both Thakeham and Abri mutually benefit from the project and each meet their objectives. As Joint Venture Supervisor, one of our key responsibilities is to measure the project’s performance against its business plan, identifying any potential divergences from that plan and ensuring each member’s interests are protected.
Our wide-ranging scope of work includes attending project board meetings to feed into key discussions and decisions, on site monitoring of the compliance of the works and certifying progress against a drawdown schedule. We also have a proactive ‘early warning system’ in place which anticipates potential issues that may affect project delivery, ensuring that there is better informed decision-making as a result.
In addition to providing independent and impartial assessment and advice, we are also working with the delivery team and contributing enhanced risk, financial and quality management as part of our added value service. Overall, the project is benefitting from our strong leadership skills and significant contractual and commercial expertise.
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