Industrial Unit Pre-Acquisition Survey: Case Study
Brief: Pre-acquisition survey to inform client of the extent of works required to two industrial units they wished to acquire. The units were adjacent to others that they already owned and occupied.
Property: Two industrial units (29,535 sq. feet) on an industrial estate in the West Midlands.
Instructed by: Stainless steel product distributer.
Want to know more?
- The client instructed a pre-acquisition survey to understand the condition of, and liabilities associated with, the acquisition of two industrial units.
- One unit comprised of a semi-detached warehouse building of steel portal frame construction; the other comprised of a main industrial space to the rear with three storey offices to the front.
- Our surveyors spent two days on site surveying the internal and external condition of both properties. High-level inspection of the roofs was carried out using a drone.
- The client required a fast turnaround, and the report was made available within 24 hours of survey completion.
Key survey findings
- The property generally appeared to be in satisfactory condition subject to normal weathering and wear and tear consistent with the age and location with no evidence of significant structural defects noted.
- However, a number of repairs were required in the immediate–medium term.
- The estimate cost of repairs, including urgent roof works and fire escape reinstatement, was approximately £150K.
- Knowledge of the repairs required put our clients in a strong position to negotiate on the purchase price for the units.
- Corrugated sheet cladding and corrugated sheet covering to the roof were identified as highly likely to contain asbestos. Our surveyors recommended specialist testing and that a copy of the Asbestos Register and Asbestos Management Plan for the property should be obtained.