On-the-ground knowledge eliminates project delays
This 115-townhouse project in Sydney’s North-West corridor required significant communication with an already busy Council to keep all approvals on track. Impact Group has extensive experience in the region and was able to bring invaluable on-the-ground knowledge to the table in its capacity as Lenders Agent.
Making sure everything is good to go, right from the get-go
Given the amount of construction in the area, contingency discussions were had between Impact Group and the financier to ensure the project schedule was realistic and no cost blowouts would be incurred as a result of unexpected delays to approvals.
All approvals, design documentation and costs were reviewed on the funder’s behalf prior to commencing the project. We also undertook a validation of all the developer’s documentation, so the financier could be confident that everything was above board and there would be no unexpected changes to program or materials over time.
Finally, to ensure projected sales targets were met, we kept a keen eye on quality, the final certification process, and legislative and Council compliance.
Strong communications for financial security
There is an art to successful communications between all stakeholders, particularly with regard to developers who have multiple balls in the air at any one time. Just the right amount of pressure needs to be applied while still ensuring a productive working relationship.
Impact Group conducted monthly site inspections and regular communcation with the financier, developer, quantity surveyor and Council. The financier was also provided with monthly projections and assessments against the initial program of work.