RICS draft guidance note - Technical due diligence of commercial property, 5th edition

1 Introduction

The term 'technical due diligence' (TDD) is now generally adopted by the industry. Building survey, building condition inspection, pre-acquisition survey or vendor survey are also often utilised. The term 'structural survey' should not be used.

This 5th edition guidance note is effective three months after publication, superseding the following RICS publications:

  • Building surveys and technical due diligence of commercial property, 4th edition, England and Wales guidance note.
  • Technical due diligence of commercial and industrial property, New Zealand, 1st edition guidance note.
  • Technical due diligence of commercial, industrial and residential property in Continental Europe, 1st edition guidance note.
  • Technical due diligence of commercial and industrial property, Australia, 1st edition guidance note.

The guidance offered should be considered adaptable for all types of commercial and industrial property, including residential blocks of flats. Clients should be encouraged to avoid imposing restrictions and limitations that compromise the technical due diligence process and dilute its contents and/or effectiveness.

Also refer to Surveying safely: health and safety principles for the property professional, RICS guidance note, 2nd edition.

RICS is concerned that members only present themselves as being competent in fields or specialisms for which their training and background experience are appropriate and relevant. It is important that RICS members or RICS regulated firms undertaking commercial surveys have technical due diligence experience in this field or are appropriately supervised by an RICS member or RICS regulated firm with relevant experience.

An example technical due diligence services schedule of services has been provided in Appendix A. This form should be used in conjunction with the RICS Short Form for Designated Services available from RICS.