Blog

Three due diligence reports

27.07.2012.

Oktopaz has successfully completed three technical due diligence reports pertaining to the following properties: Ušće Shopping Centre (gross lettable area 48.000 sqm), Immo Centre 1 (gross lettable area 8.500 sqm) and Immo Centre 2 (gross lettable area 9.400 sqm), all located in Belgrade, Serbia. Oktopaz has been following the corresponding request of a renowned international client and its consultant from Romania.

The technical due diligence reports included the following elements.

Permitting: review of all existing construction and operational permitting documentation for compliance with Serbian laws, codes, rules and regulations;

Property boundaries: review of land ownership documents, existing topographical surveys and as built documentation for compliance;

Design analysis: review of the design data (all disciplines) for the buildings and compliance of the design data with Serbian and European building codes;

Cost analysis: estimation of current day replacement costs for the assets;

On site verifications, as follows:

Structural: non-destructive inspections of visible structural elements on site and review of quality assurance documentation compiled during construction;

Mechanical & electrical: on site visual inspections, review of quality assurance documentation compiled during the construction process and review of operations and maintenance procedures and records relating to electrical installation, HVAC installations, domestic hot and cold water, internal drainage, fire protection systems and external services;

Buildings condition: non-destructive inspection and review of the condition of the buildings to identify any defects or maintenance issues including (but not limited to) external finishes (roofs, rainwater disposal systems, facades, walls, etc), interior finishes (ceilings, walls, floors, etc), fixtures and fittings, exterior and landscape (hard landscape, soft landscape, exterior fixtures and fittings, signage, accesses, urban furniture, etc) and utilities meters for rented areas;

Conclusions;

Snag list: highlighting all identified issues with supporting photographs and recommendation for remedial procedures thereof.

----------

As they say "in business you get what you want by giving other people what they want." It was yet another tailored solution that made our client happy. So are we!