18 December 2020 update
The freeholder has now submitted a claim to the Building Safety Fund and awaits confirmation of approval of funding for remedial works at the property.
2 November 2020 update
Following the Grenfell tragedy in June 2017, the managing agent of the building confirmed that Sherringham Court contained no ACM cladding. The owner and managing agent of the block is Notting Hill Genesis.
In July 2020, following a Fire Risk Assessment, the managing agents were advised of some internal fire risk matters which required remediation. At that point, there were no concerns relating to the facade of the building.
In December 2018, the Government issued Advice Note 14 which provides guidance to owners of buildings above 18m, which Sherringham Court is, to take “general fire precautions” in their buildings and to make sure that external wall systems are “safe”. The definition of “safe” in the Advice Note is two-fold. First, all materials must be safely installed and maintained. Second, the external wall systems (including cladding and insulation) must contain materials that are of limited combustibility or be a system that has achieved the Building Research Establishment’s BR 135 classification.
Mortgage lenders now require confirmation that buildings are compliant with Advice Note 14 and request an ESW1 form, showing what assessment has been carried out for the external wall construction of residential apartment buildings where the highest floor is 18m or more above ground level or where specific concerns exist.
Notting Hill Genesis therefore requested that a survey be undertaken so that ESW1 forms could be issued to those leaseholders intending to sell their flats. Last week, we were advised that the ESW1 survey has failed based on issues relating to the cladding and fire breaks at the building. A waking watch (round-the-clock fire marshalls) is now at the building until a temporary alarm is installed. The managing agent is working up plans for required remedial works and connected costs. They are also working on submission of an application to the Government Building Safety Fund.
We have not yet received any Section 20 Notices from the managing agent confirming any potential extraordinary service charge costs that may arise from the waking watch, temporary alarm or other remedial works.
Our independent valuers, Allsop, had issued their valuation report to us on 23 October, valuing the flat at £225,000. On receiving the fire safety news last week, we immediately shared the information with Allsop, who have reissued their valuation report. They note, “…until a safe wall system is fitted and certified the marketability and value of the subject property is significantly affected”, and have revised their valuation to £160,000.