Informed Decisions, Protected Investment: Pre-Acquisition Survey & Valuation of a Listed Office
Case Study
The Situation
GJS Dillon were instructed by an adjoining occupier to undertake a valuation for acquisition purposes, after they were offered the opportunity to purchase the freehold of a neighbouring office building off-market.
Initial research revealed that the property was Grade II Listed and had remained in the same ownership for over 40 years. While the building occupied a prominent and desirable office location, an internal inspection quickly highlighted that little to no maintenance had been undertaken for a considerable period. The property was in visibly poor condition and clearly required substantial refurbishment.
Valuing a modern office building in good condition is relatively straightforward. However, the combination of a period property, listed status, and significant disrepair presented a far more complex scenario, with potential hidden risks and costs.
Our Role
Our role was to provide informed, independent advice to support the client’s acquisition decision. Given the complexity of the building’s condition and listed status, we advised that a full building survey be carried out prior to finalising any valuation or purchase decision.
We coordinated internally with our Building Surveying and Project Consultancy department to ensure the client received comprehensive professional advice across both valuation and structural considerations.
How We Helped
Conducted detailed pre-acquisition research, identifying the property’s Grade II Listed status.
Inspected the property and identified visible signs of significant disrepair.
Advised the client on the risks associated with proceeding without a full structural assessment.
Instructed and carried out a comprehensive building survey.
Identified substantial disrepair and structural failure, together with the likely scale of refurbishment costs.
By combining valuation expertise with technical building surveying advice, we ensured the client had a full understanding of the financial and structural implications before committing to purchase.
Outcome
The building survey revealed significant structural issues and extensive disrepair, with refurbishment costs far higher than initially anticipated. Armed with this information, the client made the informed decision not to proceed with the acquisition.
Our integrated valuation and surveying advice ultimately saved the client from a potentially costly investment mistake
Client Feedback
““I had no idea the property was Listed, although I was aware it was in a somewhat tired condition. The survey highlighted the extremely poor state of repair of the building – and the likely costs to refurbish it – I am extremely grateful to GJS Dillon’s Valuation and Building Surveying teams which saved me from a costly mistake.””
We’re here to help
It is extremely important when purchasing a commercial property to ensure that a valuation (and any necessary building surveys) are carried out. This ensures you are fully informed of any financial implication, prior to purchase. If you would like to book a commercial property valuation, just fill in a few details via our contact form and we will be in touch.
