Asset: 122 Apartments and Penthouses
Ashley Hall, originally Block 5, is a five-storey residential building consisting of 122 smart, stylish and well-designed apartments and large penthouses over a full basement car park. This building was constructed to approximately 40% shell and core when works ceased due to economic downturn and lack of funding in 2008.
Corcom was engaged to review the viability of the building and develop a strategy for the development and realisation of the asset. This strategy was implemented by Corcom following approval by the stakeholders.
The strategy objective was to complete this building to the high standard originally envisaged delivering a full suite of certification and warranty documentation along with good marketable title to the stakeholders.
Through the originally agreed strategy, budget and programme Corcom engaged the required design team and then appointed the main contractor to recommence construction and complete Block 5. The entire 122 apartments along with basement car park were completed 6 weeks ahead of programme and 8% under the original budget delivering the full suite of documentation to the stakeholders.
The success of the project is further highlighted by the letting of all units within a 7-week period which is now producing significantly higher rents than those originally forecasted.