Property firm secures £400,000 grant for city centre cladding

Residential property firm Centrick has become one of the first in the region to secure remuneration as part of the Government’s cladding £1bn building safety fund.

Receiving £400,000 on behalf of its client – a 227 unit development in Birmingham – the money negotiated by Centrick will cover the costs of replacing the building’s cladding to updated safety specifications, as well as recovering legal, professional and survey fees for the leaseholders.

The money secured will be put directly into replacing the external façade on the building with Euroclass-A rated materials, in a process that involved removing the current render and insultation, and installing non-combustible alternatives.

It will also see £15k recouped and returned to the building’s service charge account, reducing any overall deficit incurred.

In negotiating the funding, Centrick has saved around £3,200 per unit for the building’s leaseholders.

This work will start in the coming weeks, with a view to complete in early February – more than a month ahead of the government’s starting deadline of 31 March.

Phil Johns, group managing director at Centrick, said: “This is a huge step for the region in the ongoing effort to ensure that all buildings are brought up to the new safety standards under the latest government advice, and we are proud to be amongst the first to be successful in securing it. The team here at Centrick has been tireless in its determination to receive fair remuneration for the leaseholders of this development, as well as our other clients, and we’re so pleased to be able to have achieved this for them today.”