Tuesday, 21st November 2017
×

COMMERCIAL SURVEYOR

Every business in the world needs somewhere to work from; they need a base. Commercial surveyors find, buy, sell, let and manage premises on the direct instructions of their clients. They form the essential bond between those selling, those buying and those leasing offices, shops, leisure premises and warehouses. Managing the interests of their own clients brings focus on negotiation skills, enthusiasm and the ability to learn quickly and think logically whilst always remembering their and their clients' legal standing. At the top end, commercial property surveyors can expect to deal with multi-million pound portfolios making informed decisions depending on the wishes of their clients.

Each stage of the surveying process can require a specialist who has comprehensive knowledge in a particular area. It is a vast and competitive arena. If a commercial surveyor makes it to the top they can be involved in developments at the cutting edge of technology and design as well as changing the world around us.

Specialisms

Land Surveyor

A commercial property land surveyor must seek out vacant land and then value it for what it is worth before it is bought or sold on the property market. A whole range of data is needed to do this, including site history and comparable evidence, as well as the particular surveyor’s skill in valuation.

Development Surveyor

Once land is bought or sold, a commercial property planning surveyor will become heavily involved in the planning stage of whatever is to be built. They will play a major role in overseeing the development of a building or buildings that are not only intricate and sound but that will make the client a profit. It is important to remember that the surveyor must measure the building, in concept and upon completion of the structure. Rent is more commonly calculated using £ per Sq. Ft, so accuracy is of the utmost importance. The range of options is fantastically broad. Depending on where the land is and what the client’s wishes dictate, the building or buildings could become a hotel, a business park, a warehouse or even a retail park. Depending on the chosen structure, a specialist sector surveyor may become involved. In some very large developments there will be more than one type of building on the land. Surveyors may work in teams to get the best from the land and the most profit for a client.

Investment Surveyor

With knowledge of the surrounding area and the current financial property market, an investment surveyor will price the product accordingly to attract a number of interested parties to buy the newly constructed or refurbished property. Investment surveyors must be highly proficient in valuation and negotiation. They will deal with a wide range of buildings and must meet the needs of all of clients whilst maintaining an in-depth knowledge of each product.

Leasing Surveyor

A leasing surveyor or ‘agent’ will look for tenants who are interested in renting the property on a lease for a given number of years at an appropriate rental level. Rent is calculated as £ per Sq. Ft, multiplied by the floor space and is due usually on an annual basis. Most clients though will prefer to receive payments on a quarterly basis in case of tenant default. Market knowledge in general and particularly in the immediate surrounding area is a cornerstone of any good agent broker. They must promote clients’ buildings on their strengths using their most valuable USPs (unique selling points) and acquire buildings that are deemed the very best for a prospective tenant.

In both investment and leasing negotiations surveyors will want the best for a client, whether disposing of space or acquiring it, but they must be fair. There is a strict code of conduct in place which must be regimentally adhered to at all times.

The success at the outcome will depend on the skills acquired and developed by the sole or multiple surveyors at the centre of the final process of the transaction when property lawyers will become involved.

To ‘complete’ on a deal is what every surveyor wants. The empty field from the start has become something tangible and profitable for the client with the surveyor or surveyors at the heart from the very beginning.