Buying business property

Using a qualified surveyor reduces risk when buying commercial property and can help you negotiate a fair price, secure finance and choose appropriate insurance.

Why use a surveyor?

Before you buy or take on a lease, you need to understand any structural or condition issues with the building, so you do not commit to a costly mistake. A surveyor assesses both the value and structure of the property, and it is usually wise to commission a full structural survey so there are no unexpected problems later and your lender is reassured that the building is a sound investment.

Small business property guide: valuations.

How a surveyor can help

A commercial property surveyor can:

• highlight defects early, helping you avoid legal disputes linked to buying, selling, leasing or letting
• reduce the risk of unexpected repair bills by identifying hidden problems
• assess whether the asking price reflects the property’s true market value
• strengthen your negotiating position by providing a detailed report on the building’s current condition
• help you avoid overpaying for insurance or choosing the wrong level of cover
• identify likely future maintenance needs, often with cost estimates to support your budgeting

What happens in a building survey?

The chartered surveyor begins with a visual inspection of the building, including floors, walls, and ceilings, looking for signs of movement, damp or timber decay. They also assess the condition of the roof coverings, gutters, downpipes, doors and windows, noting any elements that may be near the end of their useful life.

Certain items are usually excluded from a standard building survey, such as detailed checks of heating and electrical systems, underground drainage and specific materials like high-alumina cement. Separate specialist surveys are typically needed for issues like asbestos or detailed accessibility compliance.

Choosing the right surveyor

It is essential that any commercial property survey is carried out by a suitably qualified and experienced professional. Look for a surveyor who is a member of the Royal Institution of Chartered Surveyors (RICS), as this provides assurance of recognised training, standards and professional conduct. Find a RICS chartered surveyor near you.

For further information, download the RICS Small Business Property Guide (PDF, 6.5MB).