Acquiring commercial property involves risk whether you are entering into a lease or buying a Freehold.
The best way of reducing risk is to carry out effective due diligence. This is where a building survey comes into its own.
We undertake many different types of building survey on behalf of clients.
Here are some examples:
- Measured Survey - checks that the floor area quoted by the vendor is accurate
- Schedule of Condition - limits your repairing liabilities under your new lease
- Condition Survey - provides a summary of the property’s general state of repair
- Full Building Survey - a comprehensive report including estimates of repair costs
- Asbestos Survey - an assessment of asbestos risks and any required remediation
- Assessment of Liability - the cost of meeting your liabilities at the end of your lease*
*It is worth remembering that when you vacate a leasehold property, your liabilities do not necessarily end there. It is likely that your current lease will require you to meet certain repairing and re-instatement obligations before you vacate. It is therefore essential that you know what these obligations are well before you leave your current premises because rectifying these once you have left will be far more costly than attending to them in advance. This is the information that an Assessment of Liability report will provide you with.