Project Break Down

Challenge: Cardoe Martin Limited were engaged by our client to undertake pre-acquisition at a major shopping centre in Bournemouth town centre, requiring a full appraisal of the condition of the assets building fabric and mechanical and electrical services, and a Phase I Environmental assessment to identify ground contamination risk. Our clients priorities were to provide a fast turnaround as required to meet the transaction deadlines, and fully understand the current and future risks and liabilities ownership might present, without compromising on the quality and scope of the advice.

Solution: Utilising our network of suppliers for the specialist M&E and Environmental services, Cardoe Martin were able to quickly mobilise and coordinate an expert team to inspect and report, prioritising the critical information on high risk problems and the potential costs liabilities which needed to be factored into the clients negotiation with the vendor shortly following the inspection. Alongside review of the structure, our understanding of commercial property enabled us to guide the client on where cost recoverability might be restricted by service charge caps and tenancy agreements, and following the implementation of the MEES Regulations in April 2018, where the changes in the regulations may have a future impact on leases.