Case Study 1 - Due Diligence

Scope of Instruction:

Pre-Acquisition Survey

Client:

Sackville TSP Property (GP) Limited
(Threadneedle Investments Limited)

Property:

No 1 South Quay, Victoria Quays, Sheffield

Summary:

The property is part of a substantial quayside redevelopment situated on the outskirts of Sheffield city centre. The building comprises approximately 44,000 square feet of purpose built office accommodation spread over three floors (two wings interconnected via central core/atria).

Workman was appointed to undertake a pre-acquisition survey and technical due dilligence appraisal of the base build construction, in advance of the client purchasing a long leasehold interest of the site. Workman undertook a lead technical consultant role in the acquisition process, co-ordinating other consultants and negotiations with Landlord’s agents.

Due to market influences, only a limited time was available to conclude the due dilligence process and limited information was available. However, Workman was able to provide pragmatic advice and quantify residual risks so the client could make an informed decision on acquisition.