Propitas was appointed by Wesleyan Assurance Society to carry out a pre-acqusition building survey of this circa 58,000 sq ft industrial unit. The property was comprehensively refurbished by the vendor in 2010, for the benefit of an incoming occupier who took a new full repairing and insuring lease for a period of 15 years. We surveyed all aspects of the property, including giving a building surveyor’s perspective of the services installations.
How we Added Value
In accordance with the client’s brief, we inspected the premises and provided our executive summary report within 72 hours thereafter. We reviewed all construction related documentation and advised the client on any potential risks they were inheriting as a result of the occupational lease that was already in place, which included highlighting the presence of a schedule of condition. Our review of the construction documentation also identified a number of significant residual defects that were present to the below ground drainage. We commissioned a specialist survey on behalf of the client to appraise them of the issues and the cost impact. As a consequence, our attention to detail allowed the client to achieve a reduction on the purchase price.