Project Turnaround, Workout and Recovery
Anser work directly for project funders, either monitoring the activities of the developer client and his team, auditing the project, supporting the developer on behalf of funders, or taking direct control of the project in the event of lender default to work-out to problems and restore as much value as possible to the asset.
Re-development of Commercial Office, Euston
The Directors of Anser were asked to provide advice and assistance with the re-development of large commercial office on Euston Road.
This significant project had been procured using a management contract and, as a result of a number of factors, it ran significantly over budget and over programme. We were initially called in to carry out an audit to assess the current status of the project and identify problems and resolutions. We made recommendations on the way forward as well as projecting the anticipated out-turn cost and completion date. We were then invited in to take on the full project management role through to completion of the works. A substantial part of the role involved re-establishing the strained relationships between the various project team members, and putting in place necessary project disciplines such as effective meetings and appropriate reporting.
After practical completion we assisted our Client in settlement of the financial dispute, which then ensued with the project’s management contractor.