Acquisition and Due Diligence
103,400 sq.ft/£175,000 Value of Claim
Acting for the prospective purchaser, we undertook the acquisition survey of this 1970s building, which had been substantially altered and refurbished by the seller.
We assessed the O&M manuals held at site, together with contract documentation, construction warranties and agreements to lease and tenant’s fit-out alterations and associated licences.
Following purchase by our client, we advised on dilapidations and further licences for alterations for incoming tenants.
Due to our specific recommendations, the sale and purchase agreement included rectification of some base build defects noted during our inspection.
Our input enabled the landlord to secure future lettings on an FRI basis, whilst ensuring that any rectification works were dealt with by the seller at the end of the rectification period.