Technical due diligence is just one part of the process of property acquisition, but it’s significance should not be underestimated. While a decision to purchase or occupy a property is often governed more by commercial pressures than by faults in the building, the due diligence process is designed to alert the purchaser to issues that will affect the building as an investment and as an asset. This enables the risks that are inherent in property acquisition to be managed.
The Technical Due Diligence process is a means of mitigating the risks associated with any property acquisition (lease or purchase) by assessing the condition of the building and the documentation available, and providing a detailed report in the commercial context that the acquisition is to be made. A well-executed due diligence process provides investors and prospective occupiers with a strong position to negotiate on price and to mitigate risk.