Commercial property can represent a significant investment, yet buyers sometimes rely on a basic valuation or limited inspection before committing to the purchase.
That can leave expensive defects undiscovered until after completion.
What does a commercial building survey look at?
A commercial building survey can assess the apparent condition of the building and identify significant defects and maintenance concerns.
Depending on the scope, this can include:
- Roofs and external elements.
- Walls and elevations.
- Windows and doors.
- Internal areas.
- Floors and ceilings.
- Dampness and water ingress.
- Drainage and rainwater goods.
- Building services where visible.
- Structural concerns apparent from the inspection.
- Maintenance and repair requirements.
The scope should be agreed according to the property and the intended use of the report.
Why does this matter before buying?
Commercial buildings can contain significant future expenditure that is not obvious during a normal viewing.
A defective roof, deteriorating external fabric or major maintenance requirement may have a substantial financial impact.
Identifying these issues before exchange or completion can give the buyer an opportunity to investigate further or reconsider the transaction.
Is a valuation enough?
Usually, a valuation and building survey serve different purposes.
A valuation addresses the property’s value for a defined purpose.
A building survey is concerned primarily with its physical condition and defects within the agreed scope.
One does not necessarily replace the other.
Can a survey stop me buying a property?
It is not the surveyor’s role to make that decision for you.
The purpose is to provide evidence about the building so that you can make an informed decision.
Stokemont’s advice
Commercial property can carry substantial maintenance liabilities that are easy to underestimate.
If you are considering purchasing a commercial building, understanding its condition before committing to the transaction can be considerably easier than discovering major defects afterwards.
