At Partner, we specialise in delivering detailed Building Surveys and accompanying reports for lenders and commercial real estate investors across the European Union. Our team of experienced architects, engineers, and commercial building surveyors and inspectors meticulously evaluates the property in question, providing a clear understanding of its current condition. The resulting report covers every major building system and highlights key elements such as the Condition Assessment, Maintenance Schedule, and Life Cycle Cost Analysis. These critical components, included in our report, offer our clients valuable insights into how the building’s condition may influence the asset’s overall financial performance.
For CMBS lenders, insurance lenders, and certain portfolio lenders, Building Surveys—also known as Commercial Building Inspections or Property Condition Assessments (PCAs) (mainly in the US and Canada)—are a standard recommendation. Partner prepares these reports in accordance with the stringent guidelines set by European standards and the specific regulations applicable in countries such as the United Kingdom, Germany, the Netherlands, Poland, Israel, and more. Our Building Survey thoroughly examines all significant building systems and site improvements, including Condition Assessment, Maintenance Schedule, and Life Cycle Cost Analysis deliverables. These deliverables provide a detailed breakdown of necessary capital expenditures, addressing failing or damaged systems and any life safety issues.
In the European Union, Building Survey assessments adhere to standards published by recognised regulatory bodies, including the Royal Institution of Chartered Surveyors (RICS) in the UK, and equivalent organisations across other member states. These standards should be carefully reviewed to ensure a comprehensive understanding of the required scope of work and any limitations inherent in the reports.
A Building Survey is not mandatory, but it is highly recommended, especially for certain types of properties. However, some countries or regions within the EU may have specific regulations that require certain surveys or inspections as part of the property purchase process.
While it’s not compulsory, a mortgage lender may require a Building Survey as part of their conditions before granting a loan. Additionally, having a Building Survey conducted can give you better insight into the property’s condition, potentially giving you leverage during price negotiations.
In Poland, and possibly other countries, it is required under certain circumstances, particularly for the maintenance and safety of existing buildings.
A Building Survey should be conducted by a qualified and experienced surveyor, such as a Chartered Surveyor or an architect, depending on the country. It’s important to ensure that the surveyor is accredited by a recognised professional body, such as RICS (Royal Institution of Chartered Surveyors) or its equivalent in other EU countries.
A Building Survey is more comprehensive than a Homebuyers Report or a Condition Report. It provides a detailed analysis of a property’s condition, offering advice on repairs and maintenance. The other surveys are more focused on identifying urgent issues and providing a general overview of the property’s condition.
Yes, if the Building Survey reveals significant issues or required repairs, you can use this information to negotiate a lower purchase price or request that the seller addresses the problems before completion.
For commercial real estate investors, safeguarding an investment against unexpected issues is paramount. At Partner, we customise our Building Surveys to align with both the asset’s specific characteristics and the investor’s individual concerns. Our thorough assessments test and evaluate all major systems within the building, providing a deep level of analysis.
While more extensive evaluations may incur higher initial costs, Partner consistently delivers value by identifying significant building deficiencies before our clients’ finalise ownership. This proactive approach often results in substantial savings that far exceed our service fees.
Our building surveyors possess extensive knowledge, and their assessments can be further enhanced by leveraging our network of expert specialists. These specialists, who have expertise in every building system, can contribute detailed reports, which are then integrated into our comprehensive Building Survey Report.
