Westmount Real Estate appointed APS to undertake a due diligence building survey of Lynchwood House, Peterborough.
The building was originally designed as a headquarters for a single occupier, comprising a complex structure with a central atrium known as ‘The Street’, running the length of the building, providing break out and circulation areas. The building has been partially sub-divided and as part of our report we advised on the options for further sub-dividing the accommodation.
The building was specified to a high standard and whilst generally in good condition, it was beginning to deteriorate due to a lack of maintenance. We identified areas where maintenance could be improved to extend the life of the building fabric, highlighting the capital expenditure that would be required and how the plant replacement should be co-ordinated with the sub-division of the accommodation, to suit multi-tenanted use.
As a result the client was aware of the necessary financial outlay to adapt the building for multi-tenanted occupation, which was reflected in the purchase price. The purchase was successfully completed and the client is now preparing to undertake the re-modelling works.
We also prepared a reinstatement cost assessment for insurance purposes, enabling the client to insure the building from completion.