Are you about to sign a new lease or complete the purchase of a commercial building? Make sure you know exactly what you’re getting with our commercial building survey services.
These important surveys provide a detailed and unbiased assessment of the property’s condition and make sure that buyers, tenants, and investors are well informed when acquiring new premises. This clarity allows all parties to move forward with the information they need to negotiate the terms of a purchase or lease, and also avoids any disputes once the sale is completed, so here’s everything you need to know about our surveys.
What is a commercial building survey?
Moving into new premises is an exciting time for any business but even if the building you pick is in a great location and well within your budget, it’s not going to be suitable if it has structural problems or has been left in a state of disrepair.
It’s important to be aware of these liabilities before taking on responsibility for a property, and if these issues are present in the one that you have your eye on, then a commercial building survey will uncover them. These comprehensive inspections aim to identify any and all defects, including ones that are not immediately apparent or even visible, and to give you as much information as possible about the property’s condition in a full report. This also includes any problems that are not an immediate cause for concern but could cause expensive issues later on, as this impacts your investment and your business in the long run.
When should I arrange one?
Our surveys are carried out onsite by our RICS-approved chartered surveyors, and should ideally be arranged as early on in the purchasing process as possible. Having a survey done before any agreement has been reached allows you enough time to renegotiate the contract or for the remedial works to be completed before your tenancy begins.
If our surveyors find any issues that need to be addressed before you proceed with the agreement, then our survey reports will provide you with everything you need to:
- Request that the landlord arrange the repairs before the lease is agreed; or to request that they retain responsibility for the defects and that they are excluded from your lease obligations.
- Renegotiate the terms of a sale, including the purchase price, or to request that the seller arrange the repairs before the final sale is agreed.
What does this survey include?
Our surveyors are all accredited, experienced professionals and we adapt our services as needed to suit your specific business needs.
This means that we focus just as much on the intended use of the space and its suitability for your operations as we do on the structural and foundational elements and we always aim to help you make the best investment.
To do this, our surveys usually include:
- Property details including the buildings’ age, size and construction type, and whether or not it is listed.
- A report on the structural materials and their condition.
- An examination of all structural elements, including the roof, floors and walls.
- An assessment of the electrical, plumbing and drainage systems, including the overall energy efficiency of the building.
- A report on the condition of any outdoor areas included in the sale, such as car parks, outbuildings, etc.
And, of course:
- A summary of any damages.
- Recommendations for repairs.
- Details of future maintenance works.
- Estimated costs for remedial works.
What’s next?
Once you have the full findings of the commercial building survey, you’ll be in the best position to negotiate the recommended price adjustments or terms of a lease.
We’ll be on-hand throughout the entire process, and we also offer a range of commercial services for every stage of the acquisition term, so contact us today to discuss your options.