Commercial Surveys

Almost all buildings have some defects, and without exception all buildings require repairs and replacements from time to time, to keep them in satisfactory operational condition. All parts of buildings have limited lives: roofs, windows, drainage systems, plaster, electrical and heating systems to name just a few. The consequences of defects can be particularly serious to commercial occupiers, as business operations may be disrupted.
Buyers of commercial property must therefore consider the condition of their buildings, ensuring that it is satisfactory for effective use and that unavoidable maintenance expenses are allowed for in business planning.

Freehold purchasers will wish to ensure the value of the building is properly maintained, by effective maintenance at the right time.

Leasehold purchasers will be aware of their liability to pay for repairs to the building, perhaps even a whole estate, as dictated by the landlord under the terms of the lease. Leasehold purchasers must also allow for dilapidations at the end of the lease term, as the landlord will inevitably seek to have outgoing tenants carry out as much work repair work as practical.

Finally, all business property occupiers need to consider compliance with statutory regulations relating to disabled access, asbestos, fire safety, and general health and safety issues, and whether ownership of a building will involve significant upgrade costs to meet statutory requirements.

PSA can assist you with the decision to purchase, supporting you with clear information about defects in the building, cost, priority and timing of repairs, and (for shorter leases) on dilapidations liability. Appreciation of these factors will allow you to plan for future expenses, and to take them into account when negotiating the purchase price.

We will be happy to discuss your particular requirements.