A Building Survey provides a detailed report based on an examination of the structure and condition of a property. The survey confirms the type of construction, the current condition including the state of repair and any defects. It also provides recommendations for repairs, maintenance issues and, as necessary, any further investigations that may be needed. A range of other potential factors are considered including location, environmental conditions, statutory compliance, and occupational matters.
Our team of RICS Chartered Building Surveyors have broad-reaching experience of all types of commercial property from warehouses to offices, ecclesiastical buildings, and schools, along with residential properties.
The attention to detail and expertise of our team is based on stringent adherence to RICS standards arising from the RICS Guidance Note – Building Surveys and Technical Due Diligence Commercial Property – Fourth Edition.
Types of Survey
Pre-Acquisition Survey
An Acquisition Survey forms an important part of the due diligence process. A survey is highly recommended when a property is being acquired for ownership, occupation, investment.
In respect of a purchase / investment, a Building Survey can determine:
- Costs of essential repairs and impact on commercial value.
- Potential recoverability of costs from tenants or other parties.
- Feasibility studies based on planned objectives.
- Negotiation of the purchase price based on unforeseen disrepair.
In respect of a Lease, a Pre-Lease Building Survey can help to negotiate with the Landlord:
- Elements of repairs and maintenance to be specifically excluded from the lease terms.
- Request repairs and maintenance to be undertaken before the lease is agreed.
- Agree to a level of liability for repairs to be offset against a rent-free period.
We can also incorporate feasibility studies into our building survey reports to look in more detail at specific works the client intends to carry out, the practicality of these works and estimated costs, timeframe, and constraints.
We like to get to know a client and their business before undertaking surveys. By understanding your business and commercial objectives, we can assist with more in-depth due diligence that goes beyond simply the inspection of the physical elements of the property. With this understanding, we can tailor our advice to meet your specific plans for the acquisition and provide valuable commercial input to your acquisition process and ultimately the life cycle of your involvement with the property.Aidan Sutcliffe – Director
Case study
Compass were instructed to provide a Pre-acquisition Building Survey Report on a mixed-use Retail and Healthcare premises in Leeds.
Disposal Surveys
- Vendors - A Disposal Survey is designed to identify potential issues that may affect the prospects of a sale to head off any issue that may be raised by a purchaser’s surveyor . By taking proactive advice a Vendor Survey can make the sale process more efficient by resolving potential issues in advance and providing essential information ready-made for a purchaser’s consideration. Reliance can be given to the purchaser, further reducing the need for time-consuming due diligence processes.
- Tenants - A Dilapidations Assessment is recommended for tenants in anticipation of a claim at the end of a lease term and for negotiating renewal terms.
Case study