UK property developer Ballymore has announced a UK£ 20 million fund for replacing flammable ACM cladding (aluminium composite material). This follows a fire in Ballymore’s New Providence Wharf building, East London, May 2021. Ballymore say that the ACM cladding did not burn in this incident and that work to remove the cladding had already started before the fire. It is not clear how much of the total cost of replacing flammable ACM on flats built by Ballymore will be covered by this UK£ 20 million, how much by the UK Government fund (see above) and how much will remain for “leaseholders” of flats. In the UK, many individual owners of flats and houses do not own the property, but only a 100 year “lease” from the developer.
“Ballymore to spend £20m on fire safety repairs” BBC, 18 May 2021 https://www.building.co.uk/news/ballymore-to-spend-20m-on-fire-safety-repairs/5111865.article