Castle Quay is a mixed-use development on St Helier’s waterfront. The new development provides new residential apartments, ‘boutique offices’, shops and restaurants to the waterfront at Elizabeth Marina.There are two separate buildings contains 341 Prestigious new one, two and three bedroom apartments, most with balconies, set amidst tree-lined boulevards and beautiful landscaped courtyards. The scheme contains 83,000 sq ft of commercial space and an underground car parking providing some 324 car parking spaces. The marine fronted commercial space is utilised for restaurant usage and the remaining units are for retail. The development also provides a new public open space in both buildings.The role of IPM Limited was to act as the Bank’s independent advisor on the development monitoring and reporting throughout the construction period.IPM Limited had various tasks which they needed to provide.These included:
Prepare an initial report including a review of the budget, cash flow, programme, procurement strategy, plans and specifications, contract documentation, contractor and consultant appointments, statutory consents, project insurances, environmental and site investigation reports.
Provide periodic monitoring of progress throughout the construction period including attendance at site meetings and inspection of the development on a regular basis, monitoring of the costs of the development and approval of interim valuations and providing periodic reports on progress to coincide with drawdown requests from the developer.
Monitoring the completion of construction works, attend practical completion and any sectional completions and provide the bank with a list of defects and a final report within a month of completion.
The Castle Quay project is the largest residential build on the Island which was a huge success selling a large percentage of the properties before the build had been completed.
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