Boyn Valley, Maidenhead & Pinfold Industrial Estate, Leicester

Due Diligence and EPC Review for Aquisition of Industrial Estate

A large investment fund had decided to purchase and industrial estate in Maidenhead as part of expanding their investment portfolio,

The site included 8 buildings, totaling 65,000 sq ft. As part of the purchase, standard due diligence was carried out on the estate. This did not include a review of the EPCs as the estate already had valid EPCs which were C-D rated.

After purchasing the estate, SEA Consulting were instructed to carry out new EPCs as they were due to expire soon. The client was dismayed when the EPCs were not C-D rated as expected, but were F-G rated due to a change in the regulations.

This left the client facing £1M in unexpected costs to bring the estate back to compliance and enhance the properties to a B rating for MEES 2030.

When the client was looking into purchasing another industrial estate in Leicester, they decided to include an EPC review as part of their due diligence.

SEA Consulting were instructed to survey the estate which consisted of 35 buildings totaling 240,000 sq ft. Our review confirmed what EPC ratings the buildings would achieve, along with providing improvement advice and indicative costings on how to get the EPC ratings up to a B rating for MEES 2030.

The review showed that apart from a couple of buildings, the majority would be compliant under the current MEES regulations. A nice surprise for the client was that some of the buildings would not require any additional works to meet the proposed strengthening of the MEES legislation.

Our findings helped the client make a more informed decision about the purchase of the estate.