CONNECT WITH US
Fintech

Fintech

Quensus targets £2.5m flood risk in vacant buildings

Fintech Global logo

Published on

Add as a preferred source on Google
Quensus targets £2.5m flood risk in vacant buildings

Vacant new-build developments face mounting exposure to water damage during the UK winter, when freezing temperatures can cause pipes to burst and commissioning faults to go undetected. For developers approaching handover, these incidents can damage completed properties, delay occupation and increase the cost of delivering projects.

With no permanent occupants to spot problems, water can leak for hours before anyone intervenes, turning a minor fault into a major property claim. Quensus, a leak prevention specialist, says intelligent monitoring and automatic shut-off systems can help reduce this exposure by identifying unusual water flows and isolating supplies before damage spreads.

The financial impact can be substantial. Figures cited by Quensus suggest escape-of-water incidents account for around 30% of UK property claim costs, while roughly two-thirds of construction sites experience such events. The company has recorded a £2.5m loss following a flood at a vacant site awaiting handover and an 18-month project delay caused by a separate leak during a period of vacancy.

Quensus describes the period between practical completion and stable occupation as the “Handover Vulnerability Gap”. During this time, properties may be finished but remain empty or only partly occupied, leaving leaks less likely to be spotted quickly.

Winter conditions can increase the risk, particularly where pipes are exposed to freezing temperatures or faults emerge during commissioning. Without regular checks or people living on site, even a relatively small leak can continue undetected, potentially damaging multiple units and disrupting the handover process.

For developers, the consequences extend beyond repair costs. Water damage can delay occupation, create additional work for contractors and complicate the transfer of completed properties to owners or tenants.


Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.