Development monitoring is a specialist service required by our clients who provide the development finance or intend to occupy a finished property. Our main purpose is to risk assess the development throughout its procurement cycle so that the clients’ interests are better protected and the project objectives are met.
Each monitoring project is unique and we tailor our service to suit your needs with an assigned Partner from our highly experienced specialist team. Knight Frank have all of the necessary and extensive professional experience in-house including a complete understanding of all the property market sectors.
We deliver independent technical due diligence for the project, assessing the initial risks and then monitoring its progress, assessing risks arising and verifying monthly payment drawdowns from a technical perspective in accordance with the agreed lending terms.
Our service combines professional building, project and cost consultants into a highly experienced national team. We also apply expertise in strategic facilities management and information management. In effect, our project monitor acts as the expert independent representative of the client throughout the development life cycle.
Funders and investors are often not construction and development experts. The construction and development team often have differing objectives for a project. Our monitoring service lowers project risk rather than just predicting it’s potential. Development Monitoring is a service that provides peace of mind to those who have a vested interest in the outcome of a large development or project. However, our involvement is not only for the funding body but also aids the development team by providing our broad understanding of development and insight into risks mitigation options.
Emily Seager, associate at Knight Frank Newcastle, shares her expertise on rent reviews.