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MANCHESTER, UK
MANCHESTER GOODS YARD
Manchester Goods Yard encompassed the new build construction of a 300,000 sq.ft commercial office led mixed-use development within the esteemed Enterprise City development. It has enabled the expansion and relocation of blue-chip tech and leisure businesses in what is the most high-profile commercial hub in the region.
RLB’s fund monitoring experts provided strategic advice and detailed risk analysis in support of this major urban development. Our team’s consistent service delivery throughout the four-year project, including during the Covid-19 pandemic, was key to our client Aviva Investor’s realisation of investment goals and a commercially successful venture.
At a glance
- ClientAviva Investors
- ServicesProject & Programme Success, Project and Fund Monitoring
- sectorCommercial
- LocationManchester , United Kingdom
Pragmatic risk analysis
The protection of Aviva Investor’s investment interests was achieved despite project evolution which saw significant changes to the planned development scope, project costs and subsequently to the investment structure. Our pragmatic, dynamic and diligent approach to risk analysis ensured the consistent provision of expert advice. The pandemic created delivery and cost challenges that presented unprecedented risk. In response, we provided enhanced risk analysis and monitoring to enable Aviva Investors to make informed decisions and stay on track to achieve its objectives.
‘’RLB has been great. They have been professional, diligent and have ensured the protection of Aviva Investor’s commercial interests through the life of the project. They have been our direct interface for this project and have been all over it. I am extremely confident that RLB’s professional advice provides us with the comfort that we require for this development.”Julian Cobourne, Senior Director, Aviva Investors
Working collaboratively with Aviva Investors and the developer, our team was proud to be part of a project that expanded and bolstered the commercial diversity of the region and provided new, diverse and sustainable employment opportunities for the local community.
Development expertise
Our technical appraisal of the development provided a robust view of risks, with our recommendations shaping the investment structure to provide enhanced protection. Our practical experience meant we were able to identify downstream risk throughout the course of a changing project landscape, particularly concerning complex cost, procurement and contractual matters. This expertise was essential to the agreement of an equitable and transparent closing financial account and ensured full protection of Aviva Investor’s interests at all stages of the project.
Reliable critical appraisal
RLB’s fund monitoring experts have extensive knowledge of development challenges and the experience to appraise evolving developments, their requirements and funding implications. This enabled us to provide proactive and reliable critical appraisal of this complex and multi-faceted project as changes in scope and pre-lets were made leading to the introduction of additional projects, contracts and changes to the development’s financial structure.
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