J3 Places Insurance on £24M AMA Homes Residential Project
J3 Advisory was instructed by AMA Homes to place new building warranty insurance on its £24m Belford Road scheme in Edinburgh. The insurance will provide cover for any damage as a result of defective design, workmanship, or materials after practical completion.
AMA has been at the forefront of residential and commercial development in Edinburgh for over 35 years, having converted many iconic properties, and created landmark buildings that have helped shape the city’s architectural landscape.
This insurance will enable the developer to proceed with plans for the redevelopment of the site to 78,000 sq. ft of residential space and 44 car parking spaces on-site and provide a 10-year cover.
Head of business development, Daisy Neall, was able to secure quotes from two additional A-rated insurers, adding to the terms AMA Homes received directly before engaging J3.
J3 Advisory managing director Jack Bristow added, “We’re an ambitious business, and our aim is to advise experienced developers on the best way to insure and fund their pipeline of schemes. There is a very real gap in the market to deliver best-in-class advice on large-scale projects, coupled with full access to the LDI providers. That offering being led by Daisy, who has been on the frontline with developers for more than five years, is a truly powerful offering.”
Murray Faughnan, Architectural Technologist for AMA Homes added, “Having already made enquiries for the warranty on Belford, I was fairly certain our path was set. However, Daisy was composed and confident that she could make a positive impact on our search for the right warranty provider, and she delivered on her promise with aplomb.”
J3 Advisory Overview
J3 was launched to fuse structural defect insurance and funding for the betterment of its clients. In doing so, the team continues to deliver a combined and impressive net result: to save their clients’ valuable time and provide them with peace of mind.
So far, we have placed structural warranty insurance on a number of projects – the more notable cases include a £17m residential scheme in East London & structural warranties on £26m worth of developments across Skillcrown & Epicho Homes.