Building Surveyors are here to help the Commercial Acquisition process

Article by Ben Nicholas, Associate at Ryden Building Consultancy in Manchester

Are you trying to sell a commercial property but the purchaser's building surveyor has thrown up a load of unnecessary questions and unexpected problems frustrating the whole process?

The truth of the matter is that those questions are necessary to protect the interest of the purchaser and the problems could have actually been expected.

You could choose to plan for this by commissioning your own due diligence survey as the vendor.

In recent months Ryden has undertaken a series of pre-acquisition surveys for prospective buyers of properties which to the untrained eye have appeared to be clean and uncomplicated assets. However, the inspections have uncovered issues such as a significant lack of fire protection, the presence of composite cladding panels, widespread non-compliance with the Building Regulations and overflowing foul drainage - all of which have come as a complete surprise not only to the buyer but also the seller. Consequently, the deals have become more drawn out with difficult questions having to be answered.

Our pre-acquisition surveys extend beyond the actual bricks and mortar because we can also examine the building's technical documentation. This process can highlight things such as inadequate testing records, poor EPC ratings, the presence of deleterious materials and potentially problematic lease clauses resulting in significant cost liabilities for the future landlord. These discoveries hidden away in the paperwork often throw a spanner in the works for property sales therefore we have found that our clients benefit from understanding these issues and planning for them pre sale.

In order to avoid the frustration, delay and extra costs of protracted deals and even completely aborted deals, at Ryden Building Consultancy we can offer pre-sale technical due diligence building surveys so that potential pitfalls can be identified and mitigated, minimising surprises during the transaction itself. These documents can even be developed into full vendor surveys on which the purchaser can take reliance. For the vendor, this provides greater autonomy over the process, avoiding time delays, additional costs and even price chips.

For further information on services provided by Ryden’s Building Consultancy visit:
https://www.ryden.co.uk/services/building-consultancy

Get in touch with our team of Building Consultancy experts here.