What is a commercial building survey?

What Is a Building Survey?

A building survey will examine the following:

• Construction and structure
• Size of property
• Materials
• Surrounding land
• Other physical features prior to a lease or purchase

These surveys can be carried out by a professional building surveyor with accreditation from the Royal Institution of Chartered Surveyors (RICS). Commercial building surveys differ from residential surveys in that they are typically more complex and involve a wider range of detailed aspects. 

They will also undertake a technical analysis, identifying defects and potential repairs. This may also involve an estimate of costs to bring defects into repair. Surveyors are equally involved with the legal aspects of leasing and purchase, such as health and safety concerns, if there are any existing leases or disputes, or whether a building is listed.

What are the different types of Commercial Building Surveys?

Commercial surveys are available for different purposes. Below, we outline these in further detail:

Due Diligence Report 

In its most basic terms, a due diligence survey involves a detailed inspection of a building’s deeds and history. This can extend to the examination of leasing terms, legal documentation, service charge agreements, and similar to ensure the property meets the requirements of the prospective tenant or buyer.

Condition Survey

This type of survey involves inspecting a property to determine the condition of the building. It is typically used by commercial property owners who wish to purchase a premises to bring into regular use. It specifically aims to identify any physical defects and the overall scope of the work.

Acquisition Survey

Completed before purchase, an acquisition survey provides the buyer with crucial details on the condition of a property, especially in terms of the structure and materials. The survey may also provide details on repair and refurbishment costs.

Disposal Surveys & Vendor Survey

This type of survey is used in situations where a building may be in a dilapidated state and the owner wishes to sell the site. A disposal survey can speed up the sale process and give potential buyers the information they need to make an informed purchase.

Why Do You Need a Commercial Building Survey?

Businesses and property owners will likely require a building survey if they intend to purchase or lease a building or portfolio of premises. The reasons are simple: industrial building surveyors provide extensive insight into the condition of a property alongside any legal and financial considerations. With much at stake during a lease or property purchase, detailed surveys provide reassurance and can mitigate any financial risk or legal obligations further down the line.