Blocsphere secures £4.7m in Building Safety Funds
19th May 2021
Over £4.7m in Building Safety Funds have been awarded to Blocsphere Property Management in relation to various cladding deficiencies in the South East London region.
Blocsphere Property Management, head office in Ludlow, Shropshire, are extremely proud to have been awarded £4.7m in Building Safety Funds, to help ensure the safety of those living in a high-rise building in London.
The building, consisting of 153 leasehold properties, has been through an exhaustive process over the past year and have now been successfully awarded funding, which will be used towards the cost of remediation to the building, as a result of the various defective cladding issues. 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.
Joy Davies, Legal Director of Blocsphere Property Management, comments: “Through no fault of their own, leaseholders have been faced with crippling costs, the potential of bankruptcy, and the extremely difficult situation of not being able to sell their apartments as a result of the cladding scandal. This funding will go some way to assist the leaseholders with the cost of remediation works to make their building safe. We are thrilled for our residents and look forward to getting works underway!”.