Technical Due Diligence
In light of current disruption resulting from the COVID-19 pandemic, TFT has formed a two-stage technical due diligence process designed to progress sales in disrupted markets. To find out more about this guidance for pre-acquisition surveys, you can read this article: https://www.tftconsultants.com/two-stage-tdd-commercial-property-sales-isolation/
Technical due diligence (TDD) requires dedicated, specialist teams of chartered building surveyors and engineers to properly appraise a building. The condition of a building is important, but today’s more rigorous and commercial environment calls for TDD to become a key risk-management tool to help identify the limitations and opportunities of an investment, in the form of pre-acquisition surveys for property transactions.
TDD has changed in line with emerging trends of shorter leases, multi-occupied buildings, sustainability and more stringent legislation, all demanding a wider viewpoint. Different opportunities, such as the feasibility of adding an extra floor or conversion of an underused part of a building, may need to be considered. Landlord and tenant issues will need to be resolved from a neutral standpoint.
Extensive building services installations systems such as heating and cooling, ventilation, building management systems, automation and drainage, often present greater issues than the building fabric itself – although the problems are often not visible. You need an integrated and vigorous approach to all these issues to identify potential liabilities and offer pragmatic advice on correcting deficiencies. Armed with cost liabilities and risks, we will support the negotiation process and your subsequent transaction decision. TDD is our speciality and we have acted on some of the most prominent and complex buildings in the UK, as demonstrated in our case studies.