We were pleased to receive instructions to undertake a commercial building survey of retail unit in the High Street in Southend on sea. The instruction was referred to us from solicitors on behalf of their Client who was purchasing the freehold interest of an occupied retail unit. Our Client was looking to acquiring the retail unit for investment purposes. The property was occupied by a national retailer who had a long lease and the tenant was to remain in occupation thought the acquisition.
The freehold of the retail unit was being sold by auction and the instruction was time critical for the transaction to progress. The building survey of the retail unit was completed within a week of receiving instructions and the commercial building survey report issued a week later.
The commercial building survey was undertaken with the tenant in occupation and the inspection included an inspection and review of all the accessible areas. These areas included the numerous roof areas, external walls and other external elements, and the internal structure and finishes. Some of the internal finishes were obscured by the tenants fixtures and fittings and stock items at the time of the inspection. The inspection also included a review of all the tenants servicing and maintenance documentation to understand and comment upon the tenants maintenance regime.
The commercial building survey report set out the nature and condition of the building. The building survey report continues by making commentary on the on the defects and also the issues that may have implications on our Client in both the short and long terms following the acquisition of the freehold interest. These issues raised included physical defects and in addition we also made commentary on the legislation that our Client that would impact his ownership should he successfully acquire the freehold interest of the retail unit.
