Tenant Advisory Group was recently appointed to undertake a due diligence building survey on a modern industrial unit in Speke for craft brewer, Big Bog Brewing Company Ltd.
After some initial scepticism, Big Bog’s founder and CEO Paul Jefferies admitted that the benefits of the survey more than outweighed its cost. “I was quite sceptical about getting this done but having seen it now, I can see how powerful this document is! Thank you for this. I am sure this will save money in the long run and will pay for itself probably many times over.”
Tenant Advisory Group’s senior building surveyor, John Crowley undertook the survey which involved hiring high level access equipment to assess the condition of the roof and gutters. The survey revealed some fairly significant corrosion at the edges of the profile metal sheeting that forms the roof covering. As the roof forms part of the tenant’s repairing and dilapidations liabilities this discovery enabled the client’s lawyer to limit its contingent liabilities through a re-drafting of its lease.
TAG’s founder Martyn Markland commented, “The results of this survey highlight the need to carry out thorough due diligence even when there may be a temptation to cut corners or make assumptions, particularly when the property is modern or even brand new. For example, the cost of replacing a roof on Big Bog’s new unit would be more than ten or even twenty times the cost of the initial survey. This explains why we always stress to clients the importance of pre-acquisition due diligence.”