Deeside based Redrow signs pact with Welsh Government to address fire safety concerns in high-rise buildings

Deeside-based Redrow is among the major housing developers who have signed a legally binding pact with the Welsh Government to address fire safety concerns in medium and high-rise buildings across Wales.

Interest-free loans will be available to developers as part of a deal that Welsh ministers say will make people “safe and secure in their homes.”

All major developers have now signed up to the legal agreement to fix unsafe apartment blocks across Wales.

Climate Change Minister Julie James described the developer’s pact as ambitious and said it would ensure that residents feel “safe and secure in their homes.”

Developers signing the pact include Redrow, McCarthy Stone, Lovell, Vistry, Persimmon, and Countryside, with Taylor Wimpey, Crest Nicholson, and Barrett expressing their intentions to sign shortly.

In addition to the developer pact, the Welsh Government has committed to carrying out remediation work on an initial cohort of 28 privately owned ‘orphan buildings’ – those with an unknown developer or one that has ceased trading.

Over £40m has also been made available to address fire safety issues in a further 38 social sector buildings.

A new £20m Welsh Building Safety Developer Loan Scheme was announced, offering interest-free loans for up to five years to aid developers with remediation works on buildings taller than 11 metres in Wales.

The scheme is available only to developers who have signed the legally binding Welsh Government’s Developers’ Pact, aiming to prevent remediation delays due to financial reasons.

Following the tragedy of the Grenfell Tower in West London in 2017, which claimed 72 lives, fire safety defects were discovered in several apartment blocks in Wales.

Julie James, Climate Change Minister, stated that developers should rectify fire safety faults at their own cost or risk their professional reputation and future operations in Wales. “I am pleased that, today, developers have done the right thing and committed to remediate fire safety works on medium and high-rise buildings across Wales,” she said.

Sian Gwenllian, Designated Member, welcomed the progress and expressed gratitude for the £375m funding put in place by Plaid Cymru’s Co-operation Agreement with the government, which will be used to address fire safety issues, including the remediation of orphan buildings.

The Royal Institution of Chartered Surveyors (RICS) has agreed to extend its guidance to valuers in Wales, providing consistency in valuation approaches for properties within the Welsh Government’s Building Safety Programme.

This extended guidance is expected to remove barriers for leaseholders to access mortgages and other financial products, offering consistency and clarity for all stakeholders.

Luay Al-Khatib, RICS Director of Standards and Professional Development, said the extension brings “much-needed confidence to buyers, sellers, and the market” and ensures a consistent approach. He added that RICS looks forward to working with the Welsh Government in swift implementation to help those affected by the building safety crisis.