Propitas were appointed to undertake a Vendor’s Survey of these 3 office buildings totaling 250,000 sq ft as part of our client’s freehold disposal. We arranged for appropriate Environmental Phase 1, Curtain Walling and Mechanical, Electrical and Lift reports in conjunction with our own advice and presented these as a single, fully co-ordinated and cohesive report to the client, for assignment to the purchaser upon completion.
Our surveyor had originally led the technical due diligence team for the previous purchaser (Mapeley Estates Limited) and had represented his client on various technical matters and refurbishment projects at the property.
We had historically acted on behalf of the client in respect of dilapidation matters leading up to lease renewal and were therefore well placed to advice a prospective purchaser about the condition of the building, work completed and forthcoming capital expenditure schemes.
HOW PROPITAS ADDED VALUE
Propitas were able to prepare detailed technical reports on the physical condition of the building, the nature of any existing defects and the associated cost implications, presenting these within a commercial context to enable a prospective purchaser to make an informed decision about the acquisition.
Our associated knowledge of contract administration and cost consultancy, allied to considerable dilapidation expertise, made us the ideal technical partner for the acquiring client in moving forward with various asset management initiatives.