Cladding- 14th October 2020

Cladding at Century Wharf

Update for Leaseholders – 14th October 2020

 

We thought that Leaseholders would be interested to know that during Prime Minister’s Questions today, the Conservative MP for Hendon asked a planted question about the EWS1 process in relation to apartment blocks of less than 18 metres in height.

 

The PM’s prepared answer stated that consideration would be given to an extension of the Building Safety Fund to blocks below 18m in height (this fund is only for England. Welsh Government have decided to use any money they receive as a consequence for Covid 19) but, more importantly, that a “ risk prioritisation tool” was about to be rolled out by RICS to enable the problems now being encountered by sellers to be avoided. Apparently the tool will contain a “risk matrix” against which Lenders can presumably score a given Flat, and hopefully Century Wharf will be well placed to avoid future nil valuations.

 

We will be awaiting the detail on the “risk prioritisation tool” with great interest and engaging with RICS surveyors who are able to use this, as soon as we can.

 

 

Owein Mattey                                                                                     Mark James CBE

Development Manager                                                                      Chairman

Warwick Estates                                                                                  Century Wharf RTM