Accurate survey conducted by Neon Surveys helps client save £1.5million!
You’ll know that Neon Surveys has long been an advocate for making sure listed property areas are 100% accurate, and sharing the pitfalls for landlords and purchasers of not taking this vital step.
A recent surveying job highlighted why we unashamedly continue to shout about this – in this instance to the tune of a £1.5million saving on a purchase!
We were asked by our client to survey an office property to be added to their portfolio. This client had not routinely checked the listed area space before purchasing a property. Following this, I believe they will be most careful to do so in the future.
Using our BLK2GO Laser Scanner, which captures a full 360 scan at the first time of asking, we were able to provide a highly accurate survey within 8 days of the request coming through.
The client was surprised to see that our survey showed the space as measuring a sizeable 1500 sq ft less than the listed area. The difference? A lift lobby area designed to be a fire escape route and not deemed by surveying standards to be usable floor space. One of many examples of long-standing oversights in the listed size of properties.
After some discussion and negotiation with the seller, the purchase price was reduced by £1.5million. Not only did this benefit our client at the time of purchase, they will avoid any unexpected loss of income when they come to sell the property.
I urge you, whether you are renting or looking to buy a property, to please make sure you routinely check the listed space size via an area survey.
As this case shows, it can be very advantageous to you to do so.
To discuss your surveying needs, contact Neon Surveys at asapsurvey@neonsurveys.com.
We’ll carry out your survey quickly, accurately and cost-efficiently.
Duncan Hallam
Director
Phone: +44 (0)1480 718088
Email: asapsurvey@neonsurveys.com
