Prendos was asked to carry out a pre-purchase technical due diligence survey of the building fabric of this multi-complex retail property.
Client: Overseas investor
Location: Multi-complex retail property, Christchurch
Services Provided: Technical Due Diligence Survey
The property had been re-developed and extended on a number of occasions between 1995 and 2014, and in total provided around 2,740 m2 of retail space across two levels.
The client, an overseas investor, was considering buying the freehold interest of the property, which was being sold subject to the existing occupation.
We carried out a visual inspection to assess the condition of the property, reviewing documentation and preparing a building inspection report covering the physical condition, deferred maintenance and relevant legislation.
As the client was based overseas, they were looking for detailed guidance on the internal and external condition of the building. They had also appointed a number of other consultants to provide advice on fire safety, seismic strength and the condition of the installed mechanical and electrical services.
We attended site quickly and were able to provide a verbal summary of our findings the day after our inspection. Our full report was available within 12 working days of the date of inspection. This kept the client informed and prevented any gaps across the reports provided by the specialist team.
Our report helped the client to understand the risks associated with the physical condition of the building, in a jurisdiction with which they were not familiar. This included advice on items that required attention, along with recommended timeframes for replacement or refurbishment.