New building warranty specialists, J3 Advisory was instructed by AMA Homes to place the building warranty insurance on its £24million Belford Road scheme in Edinburgh. The policy from the specialist insurance and structured finance advisory firm 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, said: “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 building warranty provider market. 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, AMA Homes, added: “Having already made enquiries for the warranty on Belford, I was fairly certain our path was set. However, Daisy was confident that she could make a positive impact on our search for the right warranty provider, and she delivered on her promise with aplomb.’
Launched by ex-London Belgravia trio Jack Bristow, Johnny Leadsom, and James Mole, J3 has instructed on over 100 units and 14000m2 of residential schemes across Scotland since its launch in November 2021.