Survey for a Leased Property?

[dmarshall]

I recently put an informal offer in on my first commercial property - a 2000 sq ft office building split over two floors. It looks like it was built in the 70s but it has been brought up to a modern spec.

My question is - is a survey on a 3 year lease wise? I've had quotes at £800 and £850, which seems steep. I assume my solicitors will protect me from any unfair clauses that require me to rebuild the property to its original state or anything like that, so I'm struggling to see why I need to blow £800 before I've even got the heads of terms - has anyone got any advice?

 

[Andrew Chambers]

Yes, it's always wise to have a survey as almost certainly the lease will be full repairing and insuring.

 

[chalkie99]

That seems quite cheap to me.

The length of the lease is not relevant to the time and effort in surveying the property.

Even if the solicitor restricted your liability to the state of the building when you take it over, how can you know, or prove, exactly what that state is/was.

 

[ethical PR]

Have a look at posts from people here and elsewhere who have ended up with having to fork out thousands because they didn't invest in a survey . Lawyers advise on legalities they know nothing about the condition of buildings you are taking a lease out on- that's your responsibility

 

[Funding for Communities]

Yes a survey is as important as a Solicitor.

Good luick with it.