London Belgravia

London Belgravia secures new home warranty for Bermondsey residential scheme



London Belgravia has arranged a new home warranty with BLP Insurance for a new-build, mixed-use scheme in Bermondsey, London.

The housing development located on Dockley Road comprises 111 apartments, out of which 42 have already been forward-sold to a housing association.

The ground floor will be dedicated to retail and commercial use (with 1,100 square metres available at street level) — the commercial space will be leased to Spa Terminus, which will sub-let to businesses in the food, retail and wholesale sector.

The brokerage’s insurance and bond expert, Jamie Milne, was able to provide comprehensive and independent insight about the market and the availability of products most suitable for the project. 

He also navigated through the added layer of complexities and mandates, as stipulated by the housing association.

The warranty — arranged for developer Matching Green — is valid for a period of 12 years from practical completion, and covers defects in structure including design, workmanship and materials.

The maximum pay-out the new home warranty covers is the full reconstruction value of the residential scheme.

Construction work for the scheme started in August 2020 and project completion is anticipated for July 2022, with sales currently being undertaken by JLL.

Jack Bristow, commercial director at London Belgravia, said: “This Dockley scheme had a number of moving parts when it came to arranging the insurance and performance bond. 

“As is often the case, the challenge is ensuring everyone is happy with terms and understands them from their unique perspectives. 

“That is where Jamie excelled himself — managing multiple stakeholders, holding their hand through the process, understanding the nuances of each policy and being able to relate it to each party.

“This resulted in delivering two products essential to the development agreement.”



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