What £40 million of cladding remediation looks like: New Capital Quay, the largest ACM affected site in Europe, stands on the Greenwich side of Deptford Creek and was built by private Irish developer Galliard. The remediation is being paid for by Galliard and warranty provider NHBC. Leaseholders were seeking £5.8 million in damages but face an uphill battle …
Liam Spender is a Trustee of the Leasehold Knowledge Partnership. Personally affected by the cladding scandal, Liam is a Solicitor-Advocate and Senior Associate at Velitor Law practising commercial litigation and arbitration in the City of London.
This Bovis Home house in Bristol – which is almost certainly a flat in law as there is a garage below that is not part of the lease – has a freehold with ground rents reviewed every five years, which was bought by leasehold sector investor Gateway plc. It also has ground rents above 0.1%. Five banks have said they won’t lend on it. Gateway has offered a five years and one day lease variation.
