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Watts was commissioned by the client to provide technical due diligence services including mechanical and electrical for the Cortefiel Portfolio. The project included retail, industrial and office buildings, which were located throughout Spain, Portugal, Morocco, France and Germany. The portfolio consisted of 40 shop units, an 18,500 sq m office building, and various logistics properties. These were either considered for redevelopment or were new projects in the design phase, the largest of which was 15,780 sq m.
Watts was appointed to advise on the redevelopment potential of the office building and logistics properties. This meant that the focus was on costs and town planning restrictions. A further logistics site included in the purchase meant that the design proposals, agreements with local authorities and cost planning had to be reviewed. An assessment of the shop units focused on desktop reviews with limited inspections.
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