Many business owners or potential business owners don’t fully understand commercial property because it’s not their area of expertise. With this in mind, Hunt Commercial has outlined 5 reasons undertaking a property survey will help tenants, owners or investors of commercial property at the beginning, during or end of occupation or ownership.
1. Potential discounts
When buying a commercial property, a building survey may discover issues, such as a leaking roof or cracking of walls, which could be used to renegotiate the offer to the vendor or to ask the vendor to undertake some capital expenditure.
Should you be looking to enter into a new lease, a survey may identify the potential costs of dilapidations claims (repairs a tenant may have to make at the end of the lease).
2. Spot issues
The commissioned survey may help unearth issues concerning access, boundaries, rights of light, party walls etc. These are issues which most business owners do not consider as potential problems. For example, are you restricted from accessing the subject commercial property?
3. Help your lawyer
Hunt Commercial’s building surveyors will also be able to highlight concerns to either you or your lawyer to ensure all the relevant questions are covered off prior to you acquiring / leasing the property.
4. Avoid liability
Leasing a property carries with it a large amount of risk and potential liabilities. As a tenant you will have much less control over the property and you will be liable for a wide range of repair and redecoration clauses in the contract. A condition survey will help you mitigate some of these risks.
5. Avoid end of contract shocks
A survey of a leased property will particularly help you understand your liabilities at the end of the lease when a landlord may serve a schedule of dilapidations.
Hunt Commercial are Chartered Surveyors and commercial property agents who advise on all aspects of commercial property in Eastbourne, Bexhill, Hastings, Uckfield and throughout the South East.
We are a large independent general practice surveying firm in Sussex with over 50 years' experience specialising in the commercial property agency and building surveying. We provide professional, in-depth, quality advice to developers, investors, landlords and tenants.
Please contact the team on 01323 700100 for further information.