> ## Content Index > Fetch the complete content index at: https://joemarjason.com/llms.txt > Use this file to discover other available public pages before exploring further. # Estimating commercial property refurb costs without spending £3k-£10k on surveys - URL: https://joemarjason.com/estimating-commercial-property-refurb-costs-without-spending-3k-10k-on-surveys/ - Published: 2026-08-07T14:48:37.000Z - Updated: 2026-08-07T14:48:37.000Z - Author: Joe Marjason Most deals don't fail on price, they fail on underestimated capex. Estimating this correctly early in the process, before commissioning surveys (and blowing £3k-£10k in the process!) is critical to ensuring your returns are projected correctly and that the numbers actually work. Accuracy here is not the goal, the goal is to avoid spending money on deals that are obviously unworkable. We'll explore which key elements of the refurb you should consider for a capex estimate, so you have a realistic number to underwrite with and aren't wasting money on expensive surveys before the deal is fully in motion. **Roof** ![](https://storage.ghost.io/c/2b/12/2b1218ee-ca6a-4e7b-9f02-11cfb0e8522e/content/images/2026/08/Internal-Roofing-1-1-1.PNG) I visited a 10,000 sq ft self-contained warehouse that was being used as a steel parts manufacturer. The roof condition didn't look too alarming, visually there were no missing roof panels, but it was a fairly old site, so I did some digging. After a chat with the owner, I discovered that the roof hadn't had works done since they moved in around six years ago and that it had a couple of leaks that were “manageable”. There was no roof survey or asbestos survey available. This is immediately set off alarm bells. Roof replacements are no joke, and a site of this size could easily push into the £150k-£200k mark for the roof replacement alone on a 10,000 sq ft industrial building. If the owner is on site during the viewing, always go out of your way to try to get some intel on site condition as it can be used later for underwriting and for leverage when positioning your offer. Once you factor in asbestos removal on top of this cost (another £100k+!) the numbers can start looking a bit gnarly. A quick chat with an asbestos removal company and roofer after the viewing has a very high ROI versus getting a nasty surprise when you've already started commissioning surveys. **Asbestos** ![](https://storage.ghost.io/c/2b/12/2b1218ee-ca6a-4e7b-9f02-11cfb0e8522e/content/images/2026/08/-Asbestos-room-.jpg) I visited an unusual warehouse that had a flat block built directly above it and was a distribution centre for a well-known trainer brand. During the viewing I asked the agent about the asbestos position, and he mentioned there was some asbestos in-situ but that it was minor and only in certain rooms. Whilst walking around the site I noticed the plant room had a danger sign across the door (looking back I wish I'd refused to go inside, but we had a browse anyway!). The asbestos in this room alone would have cost £50k - £60k to remove, and I factored this in as a fixed cost on top of the remaining refurb works required for the site. It's worth having a few contractors you can send asbestos surveys to for ballpark figures as the removal costs can often come in higher than expected, especially if asbestos cement had also been used for the roofing and cladding. There are encapsulation strategies you can use, however, as some asbestos is lower risk than others, especially if it isn't within reach of employees or customers, and there isn't a chance it could be disturbed. **Cladding** ![](https://storage.ghost.io/c/2b/12/2b1218ee-ca6a-4e7b-9f02-11cfb0e8522e/content/images/2026/08/-Damaged-cladding--1.jpg) I visited a site that was being used for steelworks (the cladding in these sites often looks like it's been through a World War) and the cladding had a significant amount of damage. There were multiple holes in the walls, panelling was discoloured, and some panels were missing. The agent mentioned that the site needed some “TLC” and this was evident. However, it had a cheap headline price, lots of space and very high eaves, so I thought it was worth a viewing regardless. The site was over 20,000 sq ft so after factoring in the repairs to the cladding, roof and floor, the returns were lower than initially projected. Whether the cladding has cosmetic defects versus structural one's is also important as some buildings may look ugly, but structurally are manageable (remember, it's what's on the inside that counts…). The type of cladding also plays a role, if the cladding is single-skin steel or insulated composite panels the cost of updating is far lower than having to replace asbestos cement sheets. Working off a percentage of panels that need replacing is worthwhile e.g. five panels is more manageable than five hundred. **Power** ![](https://storage.ghost.io/c/2b/12/2b1218ee-ca6a-4e7b-9f02-11cfb0e8522e/content/images/2026/08/-Distribution-board-.jpg) When assessing power, it's worth checking whether the existing supply can be re-used and asking the agent or owner whether it's single-phase or three-phase power. If there's heavy machinery in-situ it's likely three-phase with a decent capacity. I visited an industrial site and the agent mentioned that the distribution board needed some works. I had a look, and it didn't look like it had been maintained for multiple years (If there's no Electrical Installation Condition Report (EICR) available, beware!). The age and condition of the main distribution board and any signs of damaged or exposed wiring will help you deduce whether it will be a costly rewiring job. Ask for the latest EICR and see whether there are any outstanding C1/C2 defects to fix and factor these into your costs. If you need automated roller shutters, CCTV, and access control systems it's worth checking if a capacity upgrade will be needed to accommodate these upgrades. **Fire systems** ![](https://storage.ghost.io/c/2b/12/2b1218ee-ca6a-4e7b-9f02-11cfb0e8522e/content/images/2026/08/-Fire-door--1-1.PNG) Fire systems are often overlooked as it's assumed the building must be compliant in its current state (surprise… this is not always the case!). I viewed a 10,000 sq ft warehouse that only had one fire door in the interior which raised some questions around compliance if a mezzanine was installed. Old fire alarms that are no longer supported by the manufacturer can be a red flag as well as escape distances that look excessive. No emergency lighting or exit signs point towards non-compliance. It's worth asking the agent if there is a current fire risk assessment as issues can arise later with insurance and remediation costs. Significant reconfiguration and fire strategy works can easily push into £50k - £150k+ for a 10,000 sq ft industrial building if they're non-compliant. If the existing roofing and cladding is combustible this can materially affect insurance, lender appetite and refurb costs if replacement is required. **Flooring** ![](https://storage.ghost.io/c/2b/12/2b1218ee-ca6a-4e7b-9f02-11cfb0e8522e/content/images/2026/08/-Inspection-pit--1.jpg) A major car servicing business was selling off each of its regional auto-centres, so I viewed one of the units. The centre had multiple inspection pits in the floor to carry out checks and perform oil changes to cars. I had a contractor look at photos of the flooring, and they came back to me with a £30k remediation cost item to fill in the holes (on a 8,000 sq ft site!). Dark staining or oil-soaked concrete can mean the concrete is contaminated which may require grinding or replacement which can be a significant chunk of your refurb budget. Cracked slabs, uneven flooring and damp patches can all point to £10k - £100k surprises later on for a site of this size, so its worth getting a second opinion early on if you can. **Mezzanine viability** If your projections for a site are dependent upon mezzanine viability, whether the slab can withstand one becomes a key area to investigate. Slab tests involve drilling into the floor and extracting a sample to load test which can easily cost £2k+ (the owners also really appreciate you drilling into their flooring). There are some checks you can make during the viewing, however, to investigate whether the slab will take the test of time. It's worth asking the agent whether the site was previously being used for heavy industrial use. Are there forklift intensive operations and racking systems in-situ? Are boltholes filled in that were previously used for heavy machinery? These all point to a stronger slab and can help give re-assurance that when you do carry out the slab test, it won't give you any nasty surprises later on. **Drainage** ![](https://storage.ghost.io/c/2b/12/2b1218ee-ca6a-4e7b-9f02-11cfb0e8522e/content/images/2026/08/-Blocked-drain--1.jpg) One thing I always check for on the first viewing is any standing pools of water in the yard or extensive cracking around manholes. I viewed an auto-centre that had drains that were so blocked I could barely even see the drain grate. Many older industrial sites have drains that are blocked with soot and haven't been maintained for a long time. If there's any strange smells coming from the toilet areas (lovely part of the experience) this can be an indicator of problems with foul water drainage. It's worth checking whether a sewer runs directly under the site as the water company may restrict new foundations, extensions or ground-bearing mezzanine support. They also may have access rights over the property to access it which can be problematic for operations. **External works** Not all yards are made equal and large cracks and potholes need to be accounted for (your customers and employees won't appreciate a burst tyre!). Resurfacing the yard can be an expensive cost item, but different surfaces have very different repair costs. Asphalt is the most common surface you'll come across (and luckily the cheapest to repair). Concrete can be on the more expensive side, so it's good to get a rough measurement of the area, judging whether it's extensive cracking, numerous potholes etc. rather than more of a cosmetic repair. The biggest cost driver is whether the sub-base has failed, and you have soft areas as resurfacing alone won't solve the problem. Edges often fail first so it's best to check for broken curbs or crumbling edges as these can significantly add to the refurb costs. **Security** ![](https://storage.ghost.io/c/2b/12/2b1218ee-ca6a-4e7b-9f02-11cfb0e8522e/content/images/2026/08/-Damaged-fencing-.jpg) Ideally, the site will have existing security fencing installed and a manual or automated gate, but this isn't always the case. Damaged or leaning fencing will need to be fixed or replaced, and can show signs that the site already faces security challenges (graffiti nearby can be a good indicator of any undesirables!). Installation of palisade or paladin fencing around the entire site, especially on larger sites can add up quickly. 1.8 metre fences can be inadequate and many sites use 2.4 metre palisade, sometimes with triple point tops. Who owns and maintains the boundary between sites is also worth checking as it may be the neighbour's responsibility to maintain it, not yours. If the site will be run unmanned, budgeting for automated gate motors, a keypad/intercom and internet connectivity is essential. If posts or concrete bases are failing its worth factoring this in to costs as it can add to labour. Estimating refurb costs early on can be tricky without a professional's opinion, but using these checks will allow you to put together your ballpark refurb figure without having to instruct expensive surveys. This will help you underwrite your offer and ensure you don't overpay if significant works are required. Documentation such as structural surveys, roofing reports, EICR's and asbestos surveys can help paint an early picture of what's needed and whether a site is a bargain or an expensive mistake. Extracting the right information during the viewing by doing your own visual checks and asking the right questions with the agent/ owner will ensure you're in a much better position if you reach the offer stage and will ensure you're not tripped up by any nasty surprises late in the process. --- **First Viewing Refurb Checklist** I've created a checklist below of everything discussed in this article that you can use so you hit the ground running time next time you're on a commercial property viewing: **Roof** - ☐ When was the roof last replaced? - ☐ Any known leaks? - ☐ Any roof reports available? **Asbestos** - ☐ Any asbestos surveys? - ☐ Where is the asbestos located? - ☐ Is removal or encapsulation likely? **Cladding** - ☐ Cosmetic or structural damage? - ☐ How many panels need replacing? - ☐ What type of cladding is it? **Power** - ☐ Single-phase or three-phase? - ☐ Latest EICR available? - ☐ Capacity suitable for intended use? **Fire systems** - ☐ Fire Risk Assessment available? - ☐ Sufficient escape routes? - ☐ Existing alarm system still supported? **Flooring** - ☐ Cracks, pits or contamination? - ☐ Any damp or settlement? - ☐ Likely remediation required? **Mezzanine** - ☐ Previous heavy industrial use? - ☐ Forklifts or racking previously installed? - ☐ Slab likely to support intended loading? **Drainage** - ☐ Standing water? - ☐ Blocked drains or foul smells? - ☐ Public sewer beneath the site? **External works** - ☐ Surface condition? - ☐ Signs of sub-base failure? - ☐ Likelihood of resurfacing required? **Security** - ☐ Boundary secure? - ☐ Gates and fencing reusable? - ☐ Additional security infrastructure required? --- **Documents to request from agent/ owner** - Roof survey - Asbestos survey - EICR - Fire Risk Assessment - Structural report (if available) - Drainage information / sewer plans