Commercial Building Disclosure
Future Proofing your Commercial Property
If you are contemplating an upgrade of your office, retail, hotel or industrial property, you may be left with a redundant building if you are not considering a sustainable property solution.
Napier & Blakeley offer a wide range of consultancy services that will help you deliver a more efficient and marketable solution for your property. Our services include:
Recent Trends in Technical Due Diligence
Is your ‘too good to be true’ deal really sustainable ?
Lack of Capital post GFC has lead to a significant neglect of R&M and Capex spend.
Having worked on property due diligence valued over $10B since the GFC, Napier & Blakeley have seen only nominal spend on upkeep compared with previous years.
During this period the increasing trend has been a notable reduction of Repair and Maintenance (R&M) and Capital Expenditure (Capex) budgets. Whilst this strategy may have been necessary in some circumstances e.g. postponement of non-essential Capex, we have found too commonly evidence of non-compliance regarding statutory maintenance such as testing, auditing and reporting of essential safety measures and fire safety systems.
Reduced Life Expectancy and Premature Capex
Recent technical due diligence and condition assessments have also found that the lack of R&M and Capex budgets for economic life driven plant and equipment overhauls and refurbishments has resulted in increased short and medium term Capex.
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