Technical Due Diligence
Building services account for a significant proportion of the ongoing maintenance and cost of a tenancy, and can have a major impact on the quality of the environment. An examination of building services commonly covers the condition of air-conditioning, electrical services, fire services and hydraulics.
Not all buildings are created equal, and while a lot of effort goes in to negotiating Heads of Agreement and Agreement for Leases, it can still be costly if the building isn’t capable of enabling your new fitout. There may also be opportunities to include additional allowances into your lease if you act early enough.
Our services in this area include:
Briefing with the Client’s to understand how the spaced will be used
Advice on what building services the building offers and whether it is enough for the proposed use
Documentation review, including all technical and legal documents
A property inspection where we can identify any design challenges
Attending client meetings and post-report advice
Each building service is described in detail to provide a full understanding of the capacity, system type and functionality within each building service. Commentary can be provided on the condition of each item of equipment and any risks identified.
With lease deals worth millions of dollars over the life of the deal, an initial due diligence at such a low up front cost can safeguard against significant additional costs that may have otherwise been avoided.