Haynes Square Management Limited’s portfolio of apartment blocks in Wembley, West London, required a reinstatement cost assessment for each of their properties to ensure their buildings were correctly covered.
Client:
Haynes Square Management Limited
Role:
Reinstatement Cost Assessment
Location:
Wembley, West London
Brief:
Located in the vibrant, popular area of Wembley, West London, Haynes Square Management’s portfolio of properties comprised of 10 residential apartment blocks, ranging from 42 self-contained flats to those with fewer dwellings.
Sillence Hurn were instructed to undertake a reinstatement cost assessment for each building to identify the rebuild and refurb costs, allowing Haynes Square Management to correctly insure their assets.
The team carried out a detailed survey of each apartment block, involving the likes of visual property inspections, identifying construction types, and recording materials used. In some instances, access to individual apartments were required.
Project Outcomes:
Our building surveyors provided a detailed assessment of each block and prepared a comprehensive report to enable the property owner to make informed decisions about their insurance coverage.
The report also considered potential costs of demolition, site clearance, and reinstatement, as well as any professional fees associated with the reinstatement process.
Our client was satisfied with the outcome of the assessment and used the information outlined in the reports to ensure their buildings were appropriately insured.
Speaking about the service undertaken by Sillence Hurn, Rhona Aurelien of Haynes Square management Limited said; “This was our first time instructing Sillence Hurn to carry out a reinstatement valuation. From initial contact with Lisa to organising the site visit where I met Steve and Oliver, it was seamless.
“They are very professional and friendly, and the report was issued within the desired timescale”.
Reinstatement Cost Assessments
By conducting regular reinstatement cost assessments, property owners and managers can be confident that they have accurate, up-to-date insurance for their properties, helping them avoid the consequences of underinsurance – which can be financially catastrophic.
If your property’s renewal date is coming up, or if you’re unsure whether your building(s) is adequately insured, speak to a member of the team today to discuss a plan for your portfolio.
Find out more about our Reinstatement Cost Assessment services here.
