Naismiths has an impressive track record in overseeing several major student accommodation schemes, ensuring a smooth workflow from start to finish. Acting as the eyes and ears of the client, we make sure the scope and scale of the development is completed on time and within budget.
Appointing the right teams of workers and subcontractors, managing material and labour costs and assessing potential risks are all vital for a successful conclusion. Our impartial advice and experience in dealing with major projects reassures clients that their development is in safe hands through every step of the process.
How Naismiths supports student accommodation
With the UK’s proliferation of purpose-built student accommodation (PBSA) schemes offering significant investment opportunities for property developers, Naismiths’ expertise in the field really comes into its own.
We recently completed a stunning £22m 267-bed scheme with associated amenity space and a ground-level commercial unit in south London, acting as project manager, quantity surveyor and employer’s agent.
Our dedicated team of specialists navigates each PBSA project from the procurement stage, through planning and contract negotiations, to the start of building work and a successful conclusion. We use our in-depth legislative and building regulations knowledge, such as the Building Safety Act, to steer the decision-making.
We also understand the importance of timescales around the university calendar and having the accommodation ready for students to move into before the new September term. We can accelerate the completion of work, often completing well in advance, by organising a team of specialists to deal with snagging issues.
Building consultancy services for student accommodation
From acquisition surveys at the offset to preventative maintenance plans or due diligence on disposal, we closely scrutinise each step of the process by:
- Acting as the employer’s agent or lead consultant to give a full overview
- Managing the design team and liaising with architects and planning consultants
- Leading on project management and quantity surveying
- Dealing with the planning process and permissions
- Overseeing tender and contract negotiations and sign-off
- Agreeing budgets and realistic timeframes – giving an order of cost
- Appointing contractors and setting a start date
- Hands-on reviews of work progress – co-ordinating materials and resources
- Assessing possible design changes
- Identifying and tackling potential issues
- Regular reporting of progress and updated costs to all stakeholders
- Overseeing completion of work to required high standards
- Analysis of the final outcomes
Our building surveying skills also take a lead at each stage of the project lifecycle through:
- Compliance and condition (inventory) services to assist with ongoing occupational compliance and maintenance of services and structure annually and between changes in occupation
- Technical due diligence (TDD) and vendor due diligence (VDD) – in both pre-acquisition and disposal stages, alerting purchasers or vendors to potential risks in this active investment market
- Planned preventative maintenance – identifying costs and timelines to plan regular maintenance work on a block of apartments, for example
- Reinstatement cost assessments – we will evaluate the costs involved to ensure adequate cover is in place for insurance or management purposes of buildings and portfolios
Project monitoring for student accommodation
We understand the intricacies involved in high-finance student development deals and the need to keep a tight rein on costs – and to ensure a speedy response to urgent issues.
Naismiths has been protecting and advising funders, developers and investors since 1963, providing top-level guidance and technical advice from assessing new projects to performing due diligence. By continually gathering data and analysis on a scheme, our project monitoring helps funders to track overall performance for all parties involved.
We have specific skills in dealing with large student accommodation schemes, understanding modern requirements and trends for these spaces, such as exposed concrete ceilings, smart bathrooms with automatic devices, shared spaces like cinemas and gaming rooms and break-out zones.
Converting older buildings into new student accommodation is also a challenge we relish, advising on procurement, design and planning needs and managing the project through to completion.
Our project monitoring service supports student accommodation construction schemes through:
- Project coordination and monitoring
- Budget control and financial analysis
- Technical solution advice
