Technical Due Diligence refers to the process by which a building surveyor investigates, analyses and reports on the physical characteristics and state of health of a building and its essential services, prior to acquisition or lease. Used as a risk assessment tool it aims to gather as much relevant information as possible and may encompass research into matters such as zoning, building code compliance and insurance requirements.
Premises Condition Surveys typically involve the inspection and reporting on building systems and deferred maintenance items that can materially affect the operation and value of a property. It includes an assessment of building services, adjacent grounds and ancillary facilities.
The extent of a Technical Due Diligence or Premises Condition Survey will vary according to a client’s need for specific information. Our consultants are experienced in matching client requirements and priorities with the type and extent of survey that best meets their needs.
By commissioning an appropriate survey a prospective purchaser, occupier or investor can expect to gain a:
- Better understanding of the condition of the property and relevant tenure information
- Better idea of the suitability of the property for its intended use
- Quantified assessment of future costs and other liabilities relating to the intended use of the property
Surveys also provide a level of protection for institutional investors or funders and a basis for negotiation with vendors, owners and landlords.
In the case of more complex or detailed condition surveys, a team of Prendos consultants made up of surveyors, and other engineering disciplines are able to contribute to a single report.
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