Top Tips – Property Acquisition for Owners and Occupiers: Why Use a Commercial Property Surveyor?
Employing a commercial property surveyor helps take an element of risk out of purchasing or renting a commercial property – and probably in more ways than you think. Solicitors will advise on the legal aspects of a conveyance/letting and a building surveyor may advise on condition, but neither is likely to be qualified to advise on price or rent or the practical impact of lease terms or consider issues that may affect them in the future.
Engaging an experienced chartered surveyor will:
Save you time
The surveyor will identify issues and risks early and advise against pursuing properties which may be unsuitable, which may not otherwise be obvious. They will also help ensure that the acquisition process is managed in a timely fashion.
Save you money
The surveyor will advise on the asking terms and value to ensure the amount you pay is appropriate and reflective of current market conditions and the property. As values are ordinarily based upon rates per unit area, the importance of checking that floor areas are as advertised and in accordance with the relevant code of practice cannot be overstated. They will also advise on trends and the interpretation of leases including rent review clauses and service charges, which are likely to have a significant impact over the life of a lease or investment. They can negotiate with sellers on your behalf with objectivity and from a position of knowledge.
Whether in a financial or more metaphorical context, the surveyor may identify opportunities to enhance the value of your interest, thought initiatives that include lease restructuring, surrender, changes of use and development to help you achieve your goals, in ways that you may not have considered.
Provide a bespoke service
Any transaction should be shaped to your individual needs. The surveyor will help structure a deal that balances the interplay between rent, rent free periods, break clauses and other lease terms including repairing obligations to suit you. Your surveyor will include terms that might otherwise be overlooked and avoid terms that are of no value.
When looking to purchase or rent commercial property using a professional will set you up with the best chance to acquire the property you want, on the terms you want – giving you the best opportunity to succeed.
If you’re looking for the right property at the best deal get in touch with Hicks Baker today on 0118 959 6144. Our professional team are experienced in working with clients across the Thames Valley, using our knowledge of the market and trends to find you what you need on the right terms for you. For more information visit our website.