The Chapel Walks site re-opened 20/4/2020.   The development has been named “The Chambers”.

Conversion of the upper floors of three historic city centre buildings into 14 luxury apartments in an excellent location in Central Manchester. The main image above is from the view apartment which was completed late October 2020.

GDV: £5,066,000 (June 2020 site GDV was re-assessed at 5% above initial forecasts).

Coronavirus update: The site re-opened on the target date of 20/4/2020 and risk assessments are being carried out regularly.  A reduced workforce is operating in order to be able to comply with all social distancing requirements. November 2020 work onsite continues but we still have a shortage of workers due to Covid issues.  We are also encountering delays with the supply of materials, which is a nationwide problem.

Recent site images are further down the page (latest of the show apartment added 29/10/20 as it is now completed) as is a build update (added 26/8/20).

Site schedule: we are aiming to have contractors off site by the end of 2020 but this is depending on the pandemic which continues to impact on the site schedule. As of November 2020 we still anticipate the site being completed end of Q4 2020, weather and Covid lockdown restrictions permitting.

As of March 2020 the contractors reported they are currently 2 weeks ahead of schedule (work was 12% complete then).  Inclement weather in early 2020 affected works to the external facade.

Manufacture of the lift has also been affected by the Pandemic and was delayed as was replacement glazing to the front elevation, the supply of which was delayed though the supplier returned to work 11/5/2020.

As stated above, end of October 2020 work onsite continues but we are currently down 3 teams of workers due to them operating in bubbles, and 1 member of the bubble testing positive which means they are all required to self-isolate.  We are also encountering delays with the supply of materials, which is a nationwide problem.

The view home is now complete as of end of October 2020 (Manchester is now in status level “very high”).

Sales updates and marketing:  November 2020 we continue to have a good level of interest on the site with 5 viewings booked in for w/c 9/11/20. Our agents have advised that they hope to have their first confirmed reservation by the end of November 2020.

Our agents have advised that the pre launch in October was a low key event due to Covid restrictions, but 4 viewings took place and 2 units have been pre-reserved.

The view apartment is ready for virtual viewing via a 360 degree tour as of the end of  October 2020 and an online soft launch took place 29/10/20.  One viewing is taking place 29/10/20, but it is difficult at present taking people into the building, as we then need to take workers offsite to accommodate them, which will slow work down.

Due to tier 3 restrictions being imposed on the Greater Manchester area, our agents have already started looking at making sure we have enough marketing assets to replace the face to face launch, so are in the process of putting together a virtual tour and finalisng the brochure so that the site can go live on Rightmove, and the websites before the end of October. They are also coordinating with Sam’s Chop House and we may still look at using that in November as a work space as it won’t be restricted if we use it privately.

The site hoarding has now been designed (and features Manchester’s famous band The Smiths as their rehearsal room used to be in one of the buildings) and this has been put up as of 14th October 2020 (images below).  They have advised that the new Covid guidelines are causing some issues with regards to the site itself and its location, but are still aiming to get a positive launch up and running during October 2020.  Adverts for the site have now been added on Rightmove.

Savilles carried out a pricing update early 2020 which indicates that pricing has increased slightly since our original estimates.

Investor capital returned: none to date as the site is still in the early stages of construction.

Fundraises and target interest paid:

Fundraise 1: 10% (3% until 1/3/19 then full interest rate from 1/3/19 onwards)
Fundraise 2: 10% (summer promotional rates applied to some investment)
Fundraise 3: 10%
Fundraise 4: 10%

Build update 17/11/20:

Some statutory connections are now going on, and 2nd fix work is in progress. Lifts should be going in December 2020.

Show apartment images October 2020:

 

Site images early Oct 2020:

 

Site images Sept 2020:

Site images June 2020:

Build update 26/8/20:

Works continue to progress well, the first handovers (3 units in block A) are due to handover end September 2020.  All windows bar 2 are now installed, 12 of the units are plastered, 6 in decoration, 3 in 2nd fix. Kitchens have commenced and final fix works are due to commence in the next period.  Works are on programme to complete at Christmas 2020.

5th June 2020 Update: 

The scaffolding has no come and and exterior restoration is complete at The Chambers.

GDV was re-assessed 4/6/2020 at 5% above our initial forecasts despite our original 16 apartment planning proposal not being approved.

May 12th 2020 Update:

Building Control visited 7 /5/20 and advised no issues and confirmed fire proofing requirements to M&E penetrations.

Fire Engineer has reviewed the current design and advised on further clarifications to be provided in terms of material specification; however acceptance to works carried out to date has been give.

M&E works progressing to apartments 1, 4, 5, 6, 9, 10 and 11 and main core supplies.

All necessary information has now been provided for the disconnection of the gas supply and movement of the gas meters.

Block A: external facade conservation works being carried out with roof line finials hand made.  External decoration and remedial works to windows being carried out.

Block C:  replacement single glazing and window surround details carried out.  Internal works on apartments ongoing.  Closing in b oarding and insulation and secondary ceiling work ongoing.

Block B:  party wall rebuild and 2nd floor partial removal underway.

As of the end of April 2020 we are still dealing with the planning permission issues.  We submitted revised proposals earlier in the month and are awaiting feedback – the council were trying to get us to build something that wasn’t feasible.  We believe this has now been resolved to the benefit of the project.

As of the end of February 2020, MCC have objected to the latest design whereby the existing roof line is extended to allow for mezzanine apartments to be constructed.  The design is now being reviewed to come up with a solution to minimise the loss of sellable space.

Site hoarding went up early March 2020.

January 2020 work continues after the Christmas period with no further time lost.

December 2019 work continued apace.  Work needs to be carried out to the roof of Block A to prevent water ingress, but scaffolding is required for this and Manchester City Council will not allow this to be installed until after the end of January 2020.

As of December 2019 there is a full planning application ongoing for parts of the site.  Chapel Walks consists of 3 buildings and the middle building planning has encountered some issues with the Council due to the right to light issue and also conservation issues due to the nature of the existing building. As of January 2020, we have been walking with a heritage and conservation consultancy to re-design the drawings to address the council issue and are re-submitting them. This will not be a new planning application, but a revision of the existing one.

Site purchase completed 1st March 2019.  Please note there was a 2 month delay to starting on site due to local authority requirements.  As a result of the Grenfell fire, most local authorities have changed their fire safety requirements and requested a fire strategy document as part of the planning process.  This is due to it being an existing building which is being converted.  Our contractors will try to make up ground through the build.  They are aiming for site completion by the end of July 2020.  All planning is in – note we applied for 2 more apartments and a roof terrace.  The roof terrace however was refused by the council due to a right to light issue with surrounding buildings.  This has not affected the GDV of the development.

 

Site images 7th May 2020:

Site images 24th April 2020

March 2020 Site Images:

February 2020 Build Update:

Block A – one side boarded in readiness for 1st fix M&E.  Apartment 4 internal walls are in progress.  Apt 9 fire proofing and floor overlay in progress, as are internal walls.

Block B – the new structural floor on the 1st floor is now complete

Block C – one side boarded to allow for 1st fix M&E.  Apt 1 separating floor fireproofing is in progress.  Apt 10’s bedroom floor is in the process of being replaced.  Apt 5 internal walls are in progress.  Apt 6 internal walls are being erected and first fix M&E is underway.  First fix M&E for apts 10 and 11 is also underway.

The external facade conservation works to Block A are ongoing with preparation of timber currently taking place.  Damaged timber mid sections are being replaced, splice detail to replicate original timber details dating back to 1889.  Rotten fascia detail carved numberals reflecting orginal construction date of building are also be removed.  They are being replaced by a new treated timber hand carved to reflect original detail.  Decoration and render reinstatment are also in progress.

Our contractors are continuing to work to sort out the issues with live services for surrounding buildings that are still connected on the site and need to be moved.

The scaffolding license will be formally in place by the end of March 2020.  Previously we only had a verbal agreement.

We are waiting on new quotations from Electricity Northwest and United Utilities. Quotes have been received from BT (fibre).

Side Images Feb 2020 (note older updates are below these images)

The top images show the work to the facade including the new timber hand (designed to look old!)

January 2020 Build Update:

Block A – all ceilings in this bloack are now boarded.

Block B – new structural floor on first floor is now complete.

Blcok C – the partitions have now been boarded on one side to allow for 1st fix M&E installation.

Building scaffolding checked and inspected and confirmed as secure with works to recommence 27th January 2020.

Building Inspector visited the site 28th January and works have been approved with building regulation review report issued.

Currently waiting on quotes from BT (Fibre) and Electricity North West – these quotes are due by the end of February 2020/start of March 2020.

December 2019 Build Update:

Block A – metal studding has commenced to 2nd/3rd floors.  Ground floor on hold pending restaurant fireproofing requirements.

Block B – new structural floor on 1st floor has commenced, steels are installed and timber joists in place.

November 2019 Build Update:

Manchester City Council has withheld permission for Back Pool Fold (road) to be closed in order to install scaffolding.  There is an embargo on such road closures until the end of January 2020.  It will therefore not be possible to do the roof repair to the east wing of Block A until the embargo is lifted.

The Rights of Light investigation has concluded that some buildings surrounding Chapel Walks do enjoy a right to light.  Our architects are looking at how Block B can be redesigned to accommodate this issue.

Some live services including gas mains and meters for surrounding buildings are powered by a distribution board in our building.  Our contractors are working to arrange any removals/diversions to enable the work on site.

Staircase remedial completed in all blocks.

Scaffolding has been erected to the facade.

Procurement for dormer/loft apartment ongoing.

Hoarding has been erected.

Structural work to Block C 80-90% completed, Block C overlay flooring complete on levels 2-4.

Block B 1st floor steels on site ready for new floor construction.  Block B brick remedial work complete.

Block A on hold pending roof repairs to stop water ingress.

October 2019 Update:

Works on site have now commenced. The site welfare is fully set up and temporary supply in place.
Current Site Progress:
– The fire protective boarding has now been installed in Block A (5-7 chapel walks) to all but the top floor. – The scaffold to the front elevation is now erected. – Steel supports have now been installed on the staircase

September 2019 Update:

Construction is well underway with stripping out work of the building being carried out including roof repairs and the specialist removal of asbestos.  Site drawings have also been amended from a practicality viewpoint. The fire protective boarding is now being installed in Block A (5-7 chapel walks), above the restaurant.

Specific works carried out Sept:

– Structural review of staircase and introduction of remedial works to allow construction works to commence

– Cleaning of blocks A-C

– Commencement of scaffold design; scaffolding due to be erected 21st Oct 2019 to front facade and inner atrium to allow dormer window to commence

– Fire officer site visit has taken place and agreed consultant fire strategy for the building

– Hoarding license approved 2nd October to front elevation – this was delayed by 10 working days due to license delays.

August 2019 Updates: 

– Contractors have commenced fitting out the site.

– Main work is due to commence later this month.

July 2019 Updates:

– Whilst our contractor were due to commence on site last month, they were unfortunately delayed. The issue at hand has now been resolved

– Work will begin onsite this month

End of June 2019 General Update:

– Detailed design is well underway.

– The contractor took possession of the site 8th July 2019 with build work commencing soon after.

– The contractor completion date for the development is June 2020.

– Application for planning permission for the 2 additional apartments and the roof terrace were submitted June 2019 – decision expected by the end of August 2019.

May 2019 General Update:

– Currently ironing out a plan of action for the development

April 2019 General Update:

– Main contractor has now been appointed to carry out works

March 2019 General Update:

-Things are continuing to move ahead well and on schedule

– The bat survey has now been completed. Definitively no bats present!

-Work on the site is expected to begin at the end of April

-Everything is still currently on track for a 9-month build

– A lot of interest has been generated so far

February 2019 General Update:

-We have now completed on the site purchase and investors in phase 1 have been advised that their full interest calculation start date is 1st March 2019.

January 2019 General Update:

-Contracts have been exchanged for the site, and we are due to complete the purchase on Thursday 28th February.

-The design work has been completed – including a proposed extension to create 2 more apartments and a roof terrace.  These plans have been submitted to the council and we expect a decision in around 8 weeks (c. end of March).

-We are working on a final cost sum analysis before appointing our main building contractor who will take possession of the site at the beginning of March (subject to completion).