The insurance — provided by Build-Zone — will offer a 10-year cover for any damage as a result of defective design, workmanship, or materials after practical completion up to a maximum sum of £24m.

This will enable AMA Homes to proceed with plans for the redevelopment of the site into 78,000 sq ft of residential space and 44 car parking spaces.

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Jack Bristow, managing director at J3, said: “We're an ambitious business, and our aim is to advise experienced developers on the best way to insure and fund their pipeline of schemes. 

“There is a very real gap in the market to deliver best-in-class advice on large-scale projects, coupled with full access to the LDI providers. 

“This offering being led by Daisy [Neall, head of business development at J3], who has been on the frontline with developers for more than five years, is a truly powerful one.”

Murray Faughnan, architectural technologist at AMA Homes, added: "Having already made enquiries for the warranty on Belford, I was fairly certain our path was set. 

“However, Daisy was composed and confident that she could make a positive impact on our search for the right warranty provider, and she delivered on her promise with aplomb.”