TrustCapital Australia put their trust in Napier & Blakeley

IN June 2017, TrustCapital Australia (TCA) engaged Napier & Blakeley to undertake Vendor’s Technical and Environmental Due Diligence relating to their commercial office portfolio.

Within two weeks of instruction we had reviewed all the available documentation, inspected all the properties and provided written feedback on our findings.

We were able to achieve this using our national team of building consultants, services engineers and cost consultants, in conjunction with external environmental consultants from our approved consultants panel.

This early stage reporting provided TCA, and their Facilities Managers, the opportunity to act upon minor items of deferred maintenance and short term future repairs and maintenance needs, to help prepare the properties for sale.

While the repairs were underway Napier & Blakeley completed the final written reports.

Our reports covered the technical and environmental aspects of the property and risk assessment was facilitated by capital and maintenance forecasts over a ten year period.

Items in our forecasts are categorised by the detailed scope of the instruction along with a probability rating of the likelihood of such events occurring.

Due to the active management of the investment grade properties, our reporting was able to confirm low levels of future capital maintenance requirements, which were below benchmark levels for properties of a similar age and type.

The marketing campaign commenced in July and contracts were exchanged on all five properties (four purchasers) by September.

Being independent from both the sales process and property management provided further value in that Purchasers could take reliance on the reports, free from any conflicts of interest, as if the reports had always been prepared for themselves.

Reliance was extended to Purchasers on three out of the five properties.

Napier & Blakeley

With 32 years in the property, development and advisory business we have an intimate knowledge and understanding of costs and workings across the built environment.

This experience has allowed us to develop a unique data base of costs and condition based capital expenditure forecasts, for benchmarking purposes.

Napier & Blakeley pioneered technical due diligence services in Australia 25 years ago and remain as the market leader for these services today.

We were instrumental in the RICS Best Practice Guidance Note for Technical Due Diligence of Commercial and Industrial Property and also provide support to other industry bodies.

Our capability and resources align with our brand promise of providing commercially oriented advice in a timely manner and in a user friendly format.

Our technical due diligence reporting also provides a detailed working platform to transition into an asset management plan for new owners.

Year to date we’ve completed technical due diligence on properties totalling in excess of $15 billion of transactions covering commercial, retail, logistic, health and hotel property, for both vendors and purchasers who value complete independence.

For further information on our Transaction and Advisory services please contact our team here:

NATIONAL

Rob Howells