Due diligence

Environmental due diligence has become an essential tool in assessing the environmental risks and liabilities associated with property development and the due diligence transaction process. This dedicated service, required as part of the vendor, acquisition, divestiture and redevelopment process, provides commercially aware reports, in line with current environmental legislation, tailored specifically to the needs of the client.

Elbblick Portfolio
Client: Evans Randall Europe LLP
Office: Munich
Cost: N/A

Wellgate Shopping Centre
Client: Confidential
Office: Edinburgh
Cost: N/A

Watts’ project and development monitoring advice has proven to be an essential support to funders in managing this environment, where the selections of contractors and the expectations of prospective occupiers are key. 

The service:

• Agreeing the brief
• Appraising the proposed costs of the scheme
• Understanding the client's financial commitment to the scheme
• Understanding the development and funding agreement
• Appraising the designs and specifications
• Commenting on the selection of the developer's consultants, contractors and sub-contractors
• Advising on the proposed method of procurement
• Ensuring all statutory requirements will be met
• Monitoring programme and cost during the construction phase
• Monitoring the quality of the works
• Confirming to the client that practical completion has been achieved
• Confirming to the client that making good defects has been achieved

Sofia Airport Centre
Client: Tishman International
Office: Sofia
Cost: N/A

1 St Paul's Place
Client: Standard Life Investments Limited
Office: Leeds
Cost: £19 million

Mall of Sofia
Client: GE Commercial Finance Real Estate
Office: Sofia
Cost: N/A

Watts is independent of investment advisers and agents and therefore, Purchasers’ interests are not open to compromise by ‘undue influence’. Our network of offices and our staff complement enable us to deal with single properties or large portfolios, anywhere in Europe.

The service:

• Clarifying the precise extent of the service required
• Reviewing all relevant technical and legal documentation
• Inspecting the property internally and externally
• Co-ordinating the involvement of specialist sub-consultants in regard to services installations, deleterious materials testing and land contamination
• Liaising with other members of the disposal team such as solicitors, agents, accountants and investment advisers
• Preparing a report to the client's preferred format or our own format
• Dealing with queries raised by prospective purchasers, including more forensic re-inspection of the property, if so instructed
• Drafting, agreeing and executing Warranties and Duty of Care documents in favour of the eventual purchasers

Bank of Ireland Vendor's Surveys
Client: Bank of Ireland Group Property
Office: Dublin
Cost: N/A

Ericsson Building
Client: LM Ericsson Ltd
Office: Dublin
Cost: N/A

20 Bridge Street
Client: White Stuff Limited
Office: Birmingham
Cost: N/A