Vaux Laurens, demolition and rebuild

IPM Limited were appointed with the role of monitoring and reviewing the ongoing build of 32 apartments and the rebuild of an existing property in St Peter Port, Guernsey.IPM Limited have various documents which they need to provide the bank.These are:

• 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 current situation of the build is that extra procurement costs have been incurred to increase quality of the finish of the apartments. This will benefit the overall valuation at the completion of the build. The apartments are in very high demand which has gathered a lot of interest. Savings are being sought to complete the project within the original budget.