The pipeline of UK residential buildings requiring possible cladding remediation has expanded by 12% since January, reaching 4,697 monitored blocks. The increase comes as the system for progressing building-safety work faces prolonged regulatory timelines.
Approvals from the Building Safety Regulator are currently taking 33 weeks to process, according to Property Wire. The length of the process places added uncertainty around the timing of remediation programmes for affected building owners and residents.
A new levy on development has also come into force to help fund remediation costs. The measure adds a further financial component to a market already managing extensive building-safety obligations across the residential sector.
For developers, investors and lenders, the growing monitored pipeline and extended approval period underline the importance of allowing for regulatory timing and remediation exposure in project planning, asset underwriting and transaction due diligence.
