As part of a sale and leaseback deal Graham + Sibbald (G+S) were instructed to carry out a Pre-acquisition Building Survey and report of recently (Q2 2022) constructed Petrol Filling Station and Retail Unit in Selby, North Yorkshire. The site formed part of a larger Lidl Development with G+S client acquiring the long leasehold interest to south-west parcel of land where the units sit.
Why G+S
If you are looking for a Building Surveying team who can help you maximise the value of your property and minimise your costs and liabilities, then we are the team to come to.
We work with a broad spectrum of clients, including leading names in the public and private sectors. We represent a wide spectrum of retained clients including Local Authorities, Inward Investors, Government Departments, Major Retailers and Industrialists, Licensed Trade Operators and Insurance Loss Adjusters amongst others.
Thanks to our expertise, experience and nationwide network of local offices we are able to deliver a professional, cost-effective service with a real personal touch. We place a high priority on expertise, good communications and building long-term client relationships based on trust.
Approach
The instruction was on behalf of a G+S investment client who were seeking advice on the forms of construction, current state of repair and asset management considerations. G+S also arrange for a Phase 1 Environmental Report and roof survey via aerial drone (by third parties) to accompany their report.
Key Challenges
Significant time was taken by the surveyor in reviewing legal easements and rights to ensure there were no shortcomings for the client post acquisition. There were several utility related easements that could have an impact for the investor, but with joint up advise with the clients' solicitors both parties were able to explain the practical implications to give the client comfort.
Results
This project resulted in the property being purchased shortly after issue of the G+S report.
Key Message
Graham + Sibbald has the knowledge and understanding to provide technically accurate and commercial advice when seeking to acquire commercial property for investment purposes. G+S also have a pool of third-party specialist consultants to call upon to ensure clients are fully advised of all potential risks and/or costs.
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