Technical Due Diligenceand Vendor Surveys
Whether it is for the freehold or leasehold interest in a property, we can assess the following building engineering services risks on behalf of the acquirer:
- health and safety
- regulatory non-compliance
- capital investment and financial implications
- operational risks and limitations.
With over twenty years of experience working with surveyors and investment teams across a diverse range of sectors, we are preferred by many national and local surveying practices, as we have an eye for detail. Every week, our senior team members can be undertaking 2 to 3 individual surveys per week up to 120 property portfolio acquisitions. We can communicate the principal considerations clearly and concisely so that our recipient does not have to spend time interpreting our deliverables.
Our extensive experience in the three major building services disciplines at SVMA means that we are also able to offer a unique level of expertise in MECHANICAL, ELECTRICAL and PUBLIC HEALTH including VERTICAL TRANSPORTATION services, their statutory compliance and their maintenance.
To complement this line of our professional services, we also include a schedule of condition. A schedule of condition is where one of the two parties involved in the acquisition wishes to limit their liabilities in respect of dilapidations at the end of a lease period. Our schedules can either be produced in a simple word format or go to the full level of a photographic schedule of condition.
With experience gained from working with leading specialists in dilapidations for 20 years, we have a very clear understanding of the process of dilapidations in property. Subject to the details within the lease, we always address the following headlines or breaches:
Is the property in repair? If the answer is no, then what is the remedy?
Has the property been altered since the commencement of the lease? If yes, what are the reinstatement obligations?
Does the property comply with statutory requirements? If it doesn’t, what are the remedies?
It is essential for us to review the details of the lease and the details of any licences prior to the site survey. We assess all costs using published data or our recent market tested rates for similar works. Our clear understanding of dilapidations makes it straightforward for the surveyors to work with us and apply our schedules to theirs without iteration. More often than not, we are engaged in the negotiation process and are involved in the repairs and reinstatement works of the property, post-settlement.
Given this is often a route to a project, it is imperative to us that we have captured every detail and cost the works accurately so that the outturn cost of the project matches the assessment, as much as is practicable.
Whether it is a terminal schedule at lease end or an assessment to an upcoming break, we have substantial experience in dealing with all of your dilapidations requirements.
Comprehensive andExpert Dilapidations
Planned PreventativeMaintenance (PPM) Assessments
PPM assessments are an essential tool for any property owner to maintain proactively, manage and improve their property over several years. The assessments are particularly useful for service charge profiling in multiple tenant facilities; examples would include shopping centres and multi-tenanted office buildings.
Our deliverable is a spreadsheet that sets out the scope of the services, our recommendations for repair/replacement, recommended timescales over the coming years and budget costs for each element. We pride ourselves on incorporating complex information in a simple to understand format that adds value. The spreadsheet covers health and safety issues, regulatory compliance, operational and business requirements.
We have significant experience in commercial, residential and industrial PPM surveys and we are currently engaged in this service line for all three sectors. We often combine this service into condition surveys and technical due diligence surveys.
Are you a tenant who wishes to alter or fit-out your demise or are you a landlord who wants to limit the risk of these alterations to your investment? We offer advice in relation to building engineering services in both scenarios.
It is important to us that the level of information is sufficient to make the dilapidations exercise at the end of the lease as straightforward as possible.
From a tenant’s perspective, we ensure that all necessary information is compiled and the correct documentation is in place so that the licence can be granted.
From a landlord’s perspective, we make sure that the tenant’s proposals by no means affects the value of the property and does not compromise other factors such as insurance cover.
Talk to Mark Carter about this service
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As expert, accredited and competent engineers in mechanical, electrical, and public health building engineering services, we provide a full range of services, including:
- Mechanical Electrical
- Low Carbon Consultancy
- Expert Witness
- Mechanical Electrical Design
- Public Health
- Zero Carbon Design
- Cat A Refurbishment
- Cat B Fit-Out
- Dispute Resolution
- Principal Designer