Trident provides expert project monitoring services in relation to a wide range of commercial, industrial and residential properties providing clients with objective advice to meet project objectives.
Principally, we act for funding institutions providing debt finance for development and refurbishment projects. However, we also act for occupiers, forward funders and other bodies where an independent monitoring service is required for certain new build and fit out projects.
There is always significant risk in the building process. Our senior staff have years of experience and are very well placed to understand and advise on the management of this risk and assist our clients when financing projects or taking a legal interest in building works.
We review the planning, design and construction to report on risks to programme, cost and quality. Through regular inspections and meetings with the professional team and/or developer, our monitoring role allows us to ensure the developer’s drawdowns are accurate and represent the work undertaken to that point, and that there are sufficient funds remaining to complete the project in accordance with the agreed specification.
We also identify any advance payments which are incorporated into valuations, together with materials on site to ensure that these costs can be apportioned appropriately.
It must be remembered that a developer and their team have their own objectives which may not necessarily align with those of a funder or an occupier. Clearly, one of our roles is to protect the funder or occupier in these circumstances, which will include advice on what legal redress might be available to them in addition to the advice on when to avoid risk or ensure that risks are properly managed.