Urban Property Group receives 4 star Building Trustworthy Indicator from KPMG Origins for The Parq Bexley

Busy Sydney apartment developer Urban Property Group has achieved an industry first by receiving a 4 star Building Trustworthy Indicator (BTI) from KPMG Origins for their Bexley apartment development, The Parq.

The residential development, which is located at 8-18 Stoney Creek Road, Bexley is now the first in the country by an iCIRT-rated developer to have both a BTI score and Latent Defects Insurance (LDI) for a project.

The BTI, created by KPMG Origins with the NSW Office of the Building Commissioner, provides a “Trustworthy Indicator” score to a development after the issue of an occupation certificate. This score is developed based on a combination of data provided by the developer on materials, processes, and participants of a fully constructed building.

KPMG Origins’ Lead Partner Laszlo Peter said it is very exciting to see Urban Property Group setting new standards for residential development in NSW.

"The Building Trustworthy Indicator result for The Parq has been assessed against the best available construction industry evidence and standards. Investors, residents, or future tenants can have a higher level of trust in the building as demonstrated via the BTI, which was developed with extensive industry collaboration.

“BTI is focused on the trustworthiness of the building itself (not the counterparty assessment of builders) and is a one-off indicator issued for the building after completion. Urban Property Group are leading the way in the industry by embracing multiple tools to demonstrate the quality of The Parq, helping future owners and residents to have the utmost of confidence in this development.”

Urban Property Group was also one of the first developers / builders in NSW to obtain an iCIRT in 2022.

Urban Property Group General Manager, Nick Gaudry, said to be the first iCirt rated Developer in NSW to complete a project with latent defects insurance, and now a 4 star BTI score, is a very exciting moment.

"We have long been proud of our reputation for developing high-quality properties, and with the BTI, we saw a great opportunity to formalise the high standards we set for ourselves, and support the reforms that the NSW Government's Building Commissioner, David Chandler has introduced in recent years," Gaudry says.

"The Urban Property construction team take tremendous pride and pay meticulous attention to every detail in the construction and delivery of our premium residential projects.

"Having a 4 star BTI will help to ensure transparency in delivering the highest quality construction standards. As a BTI 4* Leading developer, we are committed to supporting initiatives from the NSW Government to improve trust and transparency in residential construction.

"We had every confidence that we would receive an exceptional score as our highly experienced and dedicated team delivers residential homes of the highest design and construction standards for our customers. The proof is in the delivery, and we have many happy new homeowners who are delighted with their stunning new Bexley residences.”

Located in Bexley, the Parq embraces nature through architecture and integrated landscaping. Parq has 67 one, two and three-bedroom apartments, a ground floor cafe, a Mini-Masterminds Childcare and a Plus Fitness.

David Chandler, NSW Building Commissioner said Urban Property Group is leading the industry as the first trustworthy iCIRT rated developer to have both a BTI and a LDI policy for a project.

"A growing number of developers like Urban Property Group are embracing the need for industry leaders to show the way, as they all commit to
restoring our industry’s brand with consumers. I want to acknowledge Urban Property Group’s leadership in showcasing new ways of demonstrating the trustworthiness of the buildings they make."

Chandler said the KPMG Origins BTI is playing a key role in NSW construction reforms, and helping the industry to turn a risky reputation into one of certified trustworthiness.

Urban Property Group recently launched La Vera, their first foray into the apartment market in Macquarie Park.