What Is a Commercial Building Survey & Why You Need One?

What Is a Commercial Building Survey?

Commercial building surveys are important when purchasing or leasing a commercial property. While building surveyors are typically known for providing property valuations, their services encompass far more as we will discuss in this blog post.

A commercial surveyor can assess the condition of a premises, identify any environmental concerns to be aware of, such as asbestos or other hazards, and undertake legal documentation screening. Depending on the firm, many other services may also be available.

Building Surveyor

What is a Commercial Building Survey?

A professional building surveyor with accreditation from the Royal Institution of Chartered Surveyors (RICS) carries out commercial property surveys.

Commercial building surveys differ from residential surveys in that they are typically more complex and involve a wider range of detailed aspects.

A survey will examine the construction and structure, size of property, materials, surrounding land, and other physical features prior to a lease or purchase.

They will also undertake a technical analysis, identifying defects and potential repairs. This may also involve an estimate of costs to bring defects into repair.

 Surveyors are equally involved with the legal aspects of leasing and purchase, such as health and safety concerns, if there are any existing leases or disputes, or whether a building is listed.

Nearly all surveyors will provide clients with a full analysis of costs, including for carrying out repairs if the building requires refurbishment.

Different Types of Commercial Building Surveys

Commercial surveys are available for different purposes. Below, we outline these in further detail:

●   Due Diligence Report — In its most basic terms, a due diligence survey involves a detailed inspection of a building’s deeds and history. This can extend to the examination of leasing terms, legal documentation, service charge agreements, and similar to ensure the property meets the requirements of the prospective tenant or buyer.

●   Condition Survey — This type of survey involves inspecting a property to determine the condition of the building. It is typically used by commercial property owners who wish to purchase a premises to bring into regular use. It specifically aims to identify any physical defects and the overall scope of the work.

●   Acquisition Survey — Completed before purchase, an acquisition survey provides the buyer with crucial details on the condition of a property, especially in terms of the structure and materials. The survey may also provide details on repair and refurbishment costs.

●   Disposal Surveys & Vendor Survey — This type of survey is used in situations where a building may be in a dilapidated state and the owner wishes to sell the site. A disposal survey can speed up the sale process and give potential buyers the information they need to make an informed purchase.

Why Do You Need a Commercial Building Survey?

Businesses and property owners will likely require a building survey if they intend to purchase or lease a building or portfolio of premises.

The reasons are simple: industrial building surveyors provide extensive insight into the condition of a property alongside any legal and financial considerations.

With much at stake during a lease or property purchase, detailed surveys provide reassurance and can mitigate any financial risk or legal obligations further down the line.

If you’re needing a commercial business survey then get in contact with us at Budworth Hardcastle and see how we can support your business. Contact us on 01604604070 or alternatively visit our contact page to send us a message.

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