Purchasing or leasing a commercial building is a significant financial undertaking. It is important to understand the responsibility – and potential costs – that you are taking on at the outset. Due to the size and nature of commercial properties, costs for repairs and maintenance will usually be significantly higher than for residential properties. Where a property is in a poor state of repair initially, it is vital to gain a full picture of the extent of the works required prior to making any significant financial commitment.
Lea Hough carry out Pre-Acquisition Surveys to advise potential buyers or tenants of the condition of the premises that they are getting involved with.
Conducted by one of our Chartered Building Surveyors, our survey reports cover all external and internal elements of the property as well as services, outbuildings and grounds. We will advise upon the condition of the building, lifecycle costs, advice on refurbishment or improvements and repairing obligations.
Our Pre-Acquisition Survey service also includes:
- Advice on statutory compliance matters
- A review of all relevant technical and legal documentation including lease covenants
- Arranging for any follow up reports e.g. asbestos, dampness or structural defects
- Consideration of potential dilapidations
- Liaising with solicitors, agents and other advisers involved in the transaction
A Pre-Acquisition Survey assists clients in making informed decisions when negotiating a deal for the building. In some circumstances, armed with a Pre-Acquisition Survey, it will be possible to make savings on the purchase price.
Lea Hough carry out Pre-Acquisition Surveys for commercial premises of all types and can adapt the report to suit your requirements. Our Chartered Surveyors are based in Lancashire but also operate across Cumbria, Greater Manchester and the wider North West. For more information or to speak to a member of our Commercial Property Team today, please contact us.
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