Commercial
Yellow Building – London
Find out how our team assisted a business in London to ensure they were covered by accurate insurance using our comprehensive building reinstatement cost assessment service.
About the Project
The Yellow Building in Notting Hill, London forms part of wider Notting Dale Campus. The building is a collection of modern office spaces, all designed with striking architectural features. The Yellow Building isn’t just an eye-catching piece of architecture; the building is also environmentally smart, thermally massive, and structurally light. The building uses a diagonal concrete grid to provide structure without the need for supporting cores.
Our Approach
Our client needed to understand if the building was insured to the correct level, and they had not had a Building Reinstatement Cost Assessment (BRCA) for some time.
We work with a number of Landlords, Tenants and Loss Adjusters who rely on our assessments to accurately find out whether a site is adequately covered by the building insurance policy in the event of a loss.
Our assessments are detailed, comprehensive and include advice pre and post policy negotiation to ensure you can move forward with coverage in the right way.
Briefly a BRCA, or RCA as the term is often shortened to, will evaluate various aspects of your building with the aim of providing a figure for the cost of demolishing and rebuilding the property. With this information, you can see whether the insurance you have would adequately cover you in the event of this happening.
Our chartered surveyors review the following elements:
- Building foundations
- Cost of any party/adjoining walls or structures
- Cost of demolition
- Cost of removing debris
- Labour and materials cost
- Peripheral features such as gates, garages and fences that are covered by insurance
Following a detailed and comprehensive BRCA from Fourth Wall, you can have the peace of mind that you are protected by the right level of insurance.
The Result
Following our BRCA of The Yellow Building, we established that our clients policy holder was underinsured. This is becoming more common with many sites not being reviewed on a regular basis following ongoing market destabilisation and rising construction costs. While headline RPI inflation is beginning to return to pre-2020 levels, availability of labour and supply chain issues still place pressure on construction costs.
At Fourth Wall Building Consultancy, we’ve reinvented building surveying, combining traditional RICS expertise with dynamic, client-focused service. We use cutting-edge proptech to deliver jargon-free, beautifully designed reports that speak directly to your needs.
