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Sunrise Koenigstein
Frankfurt, Germany

Client:
IXIS Corporate & Investment Bank, London Branch
Consultant:
Watts Group PLC
Service:
Project and Development Monitoring
Project Cost:
€13,000,000

Watts was appointed by the client to oversee their interest in the development of the property Sunrise Koenigstein located near Frankfurt. The project included the demolition of an existing building and new construction of a development for senior citizens with 97 units, a full patient area and an underground car park with 21 parking spaces. The project monitoring during the construction works involved periodic site inspections, attendance at site progress meetings and managing expenditure of all development costs against the agreed budget on a monthly basis.

Watts' brief was to carry out development monitoring with the stages appraisal, risk assessment, construction and finance monitoring during the works along with advice at practical completion. Watts requested and then reviewed a wide range of information on the development including the programme, construction cost, design quality and provision of warranties. The agreed construction period for the turn-key completion was 15 months.


The property is subject to the statutory provisions of the German home law, which imposes certain conditions on financed homes for senior citizens.