The Building Surveys and Technical Due Diligence of Commercial Property guidance note has been prepared to provide Chartered Building Surveyors and their clients with an appropriate level of information and added guidance in relation to commercial property surveys. Although some comparisons can be made with the Surveys of Residential Property guidance note launched last year, this guidance note is more comprehensive, given the added complexities to and extra risks from surveying commercial property.
The importance of the technical due diligence process cannot be undervalued. This process is a means of mitigating the risks associated with any property acquisition. The assessment of the building’s condition provides investors and prospective occupiers with a strong position to negotiate property transactions and to mitigate risk. Members must remember that the guidance note should only be used as an added resource and should never be a substitute for professional judgement and experience.
The guidance note is available for free member download at www.scsi.ie.