J3 Advisory has facilitated the building warranty insurance policy for a £55m 237-unit residential development on Rochdale Road in Manchester
Part of Manchester City Council’s Victoria North Strategic Regeneration Framework, the building warranty insurance policy will cover the new McGoff Construction development.
As part of the McGoff Group’s Downtown brand, the project will include a variety of one, two, and three-bedroom apartments. Additionally, there will be duplex apartments, some of which will feature garages and storage spaces, along with a private driveway.
Downtown Victoria North will be a Build to Rent project
Downtown Asset Management will retain ownership and oversee rental lettings in the development, which will offer a spacious communal lobby with 24hr concierge, a stylish resident lounge, meeting area and gym facilities, as well as secure underground parking for 29 cars and a cycle store. There will also be landscaped grounds and courtyards within the development for resident-only use.
McGoff has previously always collaborated with prominent national brokers for insurance needs on their projects.
However, when reviewing their insurance for Rochdale Road, the team approached the process with a forward-thinking mindset. This ultimately led them to partner with J3 Advisory, a recommendation from Dalbergia, a prominent cost consultancy and project monitoring firm in the UK.
J3’s skill with BTR and PBSA schemes made them the obvious choice
Head of Business Development Daisy Neall added, ‘We are delighted to have obtained A-rated coverage for a project of this scale. The policy with Thomas Miller Specialty Construction, underwritten by Aviva underscores J3’s commitment to providing robust insurance solutions for large-scale BTR & PBSA developers, backed by A-rated providers and on a full reinstatement value basis.’
The ten year insurance policy will provide cover for damage as a result of defective design, workmanship, or materials. The Downtown Victoria North scheme is due to complete in late 2025.
Providing building warranty insurance services across 5,000 units
Since its establishment in 2021, J3 Advisory has placed structural warranty insurance for over 5,000 units across the UK, encompassing residential, BTR, PBSA, and commercial developments.
Recent notable transactions include the placement of LDI policies on a high-value residential project in central London, boasting a contract value surpassing £200m, alongside a £60m PBSA scheme in South London.
Operating from its Head Office at St George’s Court in Altrincham, south Manchester, the McGoff Group has the seamless ability to acquire, design, build, operate and maintain across targeted healthcare, residential and commercial sectors making it the favoured choice for clients, funders, joint venture partners and supply chain partners alike.
