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Case Studies:

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Phase 1, Ariadne Development
Gunwharf Quays, Portsmouth

Client:
Land Securities Limited
Consultant:
Watts
Service:
Project and Development Monitoring and Technical Due Diligence
 

Attached to the rear of the existing Gunwharf Quays mixed-use commercial development, and built on a former cleared navel site, the Ariadne Development comprises a new hotel with 135 bedrooms above retail units on the ground floor. Watts was instructed to review and undertake an audit of the proposed development and to monitor on-site progress. Watts’ primary concerns related to the shell and landlord and tenant interface, as the client was funding the scheme and purchasing the occupied building on completion of the works.

Watts was commissioned to liaise directly with the developer and report to the client. The initial development was reviewed and any items with which the freeholder might have concern were highlighted. Watts also reported any misgivings expressed by the end user and occupier, the hotel group in this case.

Watts encountered some complications when dealing with the end user and occupier of the hotel, as a number of issues were raised that were tenant-related rather than matters for the freeholders.