Revolution Property Management Secures £6.5m from Building Safety Fund

26 April 2021 | Finance, General

Revolution Property Management has been awarded over £6.5m from the Building Safety Fund. This development will help to ensure the safety of those living in high-rise buildings in the Manchester region.

The funding will be used to replace unsafe aluminium composite material cladding in both private and social sector buildings. It is part of the government’s £1bn fund that was announced in last year’s Budget.

Anand Patel, director of block management at Revolution Property Management, said: “We’re thrilled to have been awarded Building Safety Funds, as the money will enable us to keep buildings and residents safe. It has never been the responsibility of leaseholders to deal with cladding issues themselves, especially when buildings have been signed off by the relevant, responsible authorities at the time of construction. This crisis has already left millions of families in tall and medium rise towers in an incredibly tough situation, and we’re glad that the Government’s Building Safety Programme is continuing to upscale the support it offers. After all, everyone has the right to feel safe in their own home.”

These funds will not only help to directly reduce health and safety risks, but will also ensure that leaseholders are protected from the costs of remediating unsafe cladding where building owners are unable to do so. Recently, many homeowners have been unable to sell their flats due to their unsafe cladding. Though Manchester shows the strongest UK levels of annual house price growth, with year-on-year price increases of 6.6 per cent, high-rise buildings must meet safety standards for this growth to continue.

This post has originally been featured in Property Wire.