When Diligence is due.

November 2015

The purchase of office space or commercial premises of any kind is probably the single-most significant financial commitment any business enters into.

Potential buyers can spend a great deal of time considering matters such as cost, location, appearance, and internal layout, which are all important.

But other important concerns should include:

•What is the condition of the internal and external building fabric?

•What is the condition of the building services such as elevators, air conditioning, plant, hydraulic services, fire safety?

• How well have the building and services been maintained?

• What might the maintenance, repair or replacement of these items cost in the future, say over the next 10-15 years?

• Has it had a seismic assessment?

• Does it have any weather-tightness issues?

For someone considering buying a commercial property these questions and others should form part of their technical due diligence.

The Babbage Consultants Building Surveying team undertake technical due diligence inspections on all commercial-building types.

With the use of specialist sub-consultants, their reports give buyers an accurate assessment of a building’s condition and likely future financial obligations. The reports may result in a buyer opting not to purchase a property or they may provide them with a means to renegotiate the value of the property. Either way, the buyer has the facts to make an informed decision.

If you are considering buying a commercial property anywhere in New Zealand, contact the Babbage Consultants’ Building Surveying team. Learn here about other services the team can provide.

When investing in large or small commercial buildings it's key to know exactly what you're getting for your money.