Buying a commercial property is a substantial financial commitment, and the condition of the building can have a significant effect on its future costs and suitability.
A commercial building survey provides an independent assessment before you become legally committed to the purchase.
What can the survey identify?
Depending on the agreed scope, a commercial survey can consider:
- Roofs and external walls
- Structural movement
- Damp and water penetration
- Windows and doors
- Internal finishes
- Drainage
- Building services
- Previous alterations
- Common parts
- Maintenance requirements
It can also identify significant items of expenditure that may arise during ownership.
Why is this important?
A commercial property may appear suitable during a viewing while requiring substantial expenditure on its roof, external fabric, services or other building elements.
Identifying these matters before purchase gives you the opportunity to investigate further and consider their financial implications.
Is a commercial survey the same as a valuation?
No.
A valuation considers the value of the property for the relevant purpose. A building survey considers its physical condition.
The two can therefore serve different purposes.
Stokemont’s advice
A commercial building survey should be tailored to the property and the reason for the instruction.
The appropriate scope for a small office will not necessarily be the same as that for an industrial unit, retail premises or larger investment property.
Stokemont provides independent commercial building surveys for purchasers, investors and property owners.
