A pre-acquisition building survey for a commercial property is not just about due diligence, it is vital for any investor to understand the ongoing property costs.
Leading building surveyor, Akim Kamangira, is Head of Building Consultancy at KWB Birmingham commercial property agents. He says that pre-acquisition surveys should focus on the lifecycle costs of the building, making the investor aware of repairs and maintenance required, and providing a planned programme to tackle these.
KWB Building Consultancy handles the requirements of investors, property management companies, managing agents, developers, landlords, tenants, insurance companies, schools and banks. Its expertise spans all property types, advising on office, retail, industrial, land, residential, leisure, education or public-sector space.
Akim said: “Due diligence is not just checking that the building is not going to fall down. Nor should it just highlight its condition and construction methods, or state the life expectancy of certain elements. For an investor, the building survey should actually be a key part in deciding whether to go ahead with the purchase in the first place.”
“A survey needs to provide investors with vital information on what repairs will be required, when, and how much they will cost, and whether the landlord or tenant will be liable,” continued Akim. “Only with a building survey outlining costs and liabilities, should a decision to purchase be made.”
KWB’s consultancy arm recommends that investors who are considering the purchase of a commercial property should obtain an in-depth and informed pre-acquisition survey.
KWB Building Consultancy provides a wide range of specialist commercial property services, including:
- Purchaser’s surveys
- Seller/occupier’s surveys
- Project management
- Expert witness reports
- Defects diagnosis and advice
- Access audits and adaptations
- Handling of landlord and tenant matters
- Right to Light
- Party Wall Act Matters
- Negotiation of oversailing
For more information on building surveys, or any of KWB Building Consultancy’s services, contact Akim Kamangira on 0121 233 2330 or email firstname.lastname@example.org.