Peloton Real Estate
Birmingham & Crewe, UK
AG were appointed by Peloton Real Estate to undertake technical due diligence, building reinstatement cost assessments, drone surveys of the roofs and measured surveys in respect of the purchase/acquisition of 3 Portway Road, Oldbury occupied by Matalan and Unit 31A/B Quakers Coppice, Crewe, CW1 6FA occupied by Speedy Hire.
CLIENT
Peloton Real Estate
LOCATION
Birmingham & Crewe, UK
MARKET SECTOR
Industrial & Retail
AG ROLES
+ Technical Due Diligence
+ Building Reinstatement Cost Assessments
+ Measured Building Surveys and preparation of drawings
+ Drone Surveys
PROJECT COMPLETION
December 2023 & June 2024
The properties surveyed were:
Matalan – a standalone retail industrial warehouse premises in Oldbury outside of Birmingham with retail warehouse space, internal mezzanine floors and external areas comprising of car parking and access roads on FRI lease terms.
Speedy Hire – semi-detached industrial warehouse premises with office ancillary block and front service yard.
Challenge
Delivery of multiple service lines within a 5 day timeframe.
Action
We were able to react to the client’s enquiry and instruction quickly, co-ordinate and organise surveyors undertaking the survey and attend site quickly. Once the site was surveyed, AG were then able to deliver the various reports and documents with regular communication with the various team members involved to provide a multi-service offering within a 5-day timeframe.
Outcome
Delivered detailed technical due diligence reports, building reinstatement cost assessments, drone surveys of the roofs and measured surveys/plans on time to enable the client to proceed with purchase of the properties within their timescales.
Challenge
Roof coating found to be in failing following TDD and roof drone surveys.
Action
AG advised service of an interim dilapidations schedule/repairs notice onto the tenant who are a sole occupier on FRI terms to carry out repairs to the roof.
Outcome
Client instructed AG on service of an interim dilapidations schedule/repairs notice. AG were able to deliver this by desktop due to recent survey undertaken offering the client a cost saving. Tenant are due to undertake repairs to the roof and will help protect our clients’ interests following purchase of the property. Demonstrates AG’s commercial approach, understanding of the full lifecycle of a property and comprehensive service offering.