# Property Condition Assessment: [Property name]

> A building condition survey and capital expenditure forecast for a
> commercial property: what was inspected, the condition of each
> building system, the defects found, the cost to put them right now and
> the replacements expected over the forecast period. Buyers, lenders,
> owners and facility managers use it to price risk and plan budgets.
> Structure aligned with the baseline property condition assessment
> process described in ASTM E2018-24, Standard Guide for Property
> Condition Assessments: Baseline Property Condition Assessment Process
> (a walk-through survey, document review, research and interviews,
> reported as a property condition report with opinions of costs).
> Replace every `[bracketed]` value and every row marked *Example*. This
> is a documentation format, not engineering, legal or financial advice:
> use a qualified surveyor or engineer, and check the current edition of
> any standard you claim to follow.

<!--
Guidance: How to use this template
- Agree the scope with the user of the report before the visit: which
  systems, which areas are sampled, the forecast period, the cost
  threshold below which items are not reported, and whether the report
  must follow a named standard. ASTM E2018 is a voluntary guide; claim
  conformance only if the work actually followed it.
- Separate what you saw from what you were told and what you inferred.
  Record areas you could not access.
- Costs are opinions of probable cost at current prices unless you say
  otherwise. State the source of unit rates and whether tax, fees and
  contingency are included.
- Fictional example: Quelmont Park Building B, a 3-storey multi-let
  office of 4,200 m2 built in 2004, assessed for Varrowby Property Fund
  by Brackenmoor Building Consultants. All names and figures are
  invented and were computed with a script; currency USD.
-->

## Document control

| Field | Value |
|---|---|
| Report ID | [PCA-QPB-2026] |
| Property | [Quelmont Park Building B] |
| Client and user | [Varrowby Property Fund; lender if relied upon] |
| Assessor | [Name, qualification, firm] |
| Site visit date | YYYY-MM-DD |
| Forecast period | [*Example:* 10 years from the report date] |
| Cost threshold | [*Example:* items under 3,000 not reported individually] |
| Standard followed | [*Example:* ASTM E2018-24, or "not claimed"] |
| Version and status | [1.0, Final] |
| Last updated | YYYY-MM-DD |

## 1. Scope and limitations

<!-- Guidance: Write what was in and out of scope. ASTM E2018-24 lists out-of-scope considerations for information; record those you were asked to add, such as seismic review or a measured survey. -->

| Item | Entry |
|---|---|
| Systems in scope | *Example:* Site, structure, roof, facade and windows, mechanical, electrical, plumbing, vertical transport, fire and life safety, interiors of common parts, accessibility overview |
| Sampling | *Example:* All common parts, roof, plant rooms, 4 of 5 let units, vacant unit U-202 |
| Not accessed | *Example:* Unit U-102 (clinic in use); roof void above U-201 |
| Documents reviewed | *Example:* As-built drawings, maintenance logs 2023 to 2026, lift and fire alarm certificates, energy certificate |
| Interviews | *Example:* Building manager, Hollin Facility Services |
| Out of scope | *Example:* Environmental assessment (separate Phase I), asbestos survey, structural calculations |

## 2. Property description

<!-- Guidance: Give enough to understand the costs: age, size, construction and the main systems. -->

| Item | Entry |
|---|---|
| Use and size | *Example:* Office and ground floor retail, 4,200 m2 net lettable, 3 storeys |
| Year built | *Example:* 2004 |
| Structure | *Example:* Reinforced concrete frame, flat slabs |
| Roof | *Example:* Flat roof with single-ply membrane, about 1,400 m2 |
| Envelope | *Example:* Curtain wall and aluminium windows |
| Services | *Example:* 2 air-cooled chillers, gas boilers, 2 passenger lifts, addressable fire alarm |

## 3. Condition ratings by system

<!-- Guidance: Use one rating scale for the whole report and define it. Good: performing, normal maintenance only. Fair: performing with wear, repairs expected. Poor: not performing reliably, repair or replacement needed soon. Failed: not working or unsafe. -->

| ID | System | Condition | Observations | Remaining useful life (years) |
|---|---|---|---|---|
| SYS-01 *(Example)* | Structure | Good | No visible cracking or deflection | Beyond forecast |
| SYS-02 *(Example)* | Roof | Poor | Membrane blistering, two ponding areas, repairs logged in 2025 and 2026 | 2 |
| SYS-03 *(Example)* | Facade | Fair | Sealant hardening at curtain wall joints | 3 |
| SYS-04 *(Example)* | HVAC | Fair | Chillers original, refrigerant top-ups recorded | 6 |
| SYS-05 *(Example)* | Electrical and lighting | Fair | Fluorescent lighting in common parts | 1 (upgrade) |
| SYS-06 *(Example)* | Vertical transport | Fair | Original controllers, rising call-out rate | 4 |
| SYS-07 *(Example)* | Fire and life safety | Poor | Panel shows repeated zone faults | Immediate |
| SYS-08 *(Example)* | Site and accessibility | Fair | Loose ramp handrail; car park surface worn | 0 to 5 |

## 4. Opinions of costs

<!-- Guidance: Immediate costs cover items that are unsafe, failed or needed to meet code now. Forecast costs cover replacements expected within the period. Keep each item traceable to a system row. -->

| Item ID | System | Description | Year | Cost |
|---|---|---|---|---|
| PCA-FIRE-01 *(Example)* | SYS-07 | Repair fire alarm panel faults and re-certify | 0 (immediate) | 18,000 |
| PCA-SITE-01 *(Example)* | SYS-08 | Re-fix ramp handrail | 0 (immediate) | 3,500 |
| PCA-ELEC-01 *(Example)* | SYS-05 | LED lighting upgrade, 4,200 m2 at 12 | 1 | 50,400 |
| PCA-ROOF-01 *(Example)* | SYS-02 | Replace roof membrane, 1,400 m2 at 95 | 2 | 133,000 |
| PCA-ENV-01 *(Example)* | SYS-03 | Renew facade sealant | 3 | 22,000 |
| PCA-INT-01 *(Example)* | Interiors | Redecorate common parts | 3 | 15,000 |
| PCA-VT-01 *(Example)* | SYS-06 | Modernise 2 lifts at 60,000 | 4 | 120,000 |
| PCA-SITE-02 *(Example)* | SYS-08 | Resurface car park, 1,800 m2 at 25 | 5 | 45,000 |
| PCA-HVAC-01 *(Example)* | SYS-04 | Replace 2 chillers at 85,000 | 6 | 170,000 |
| PCA-INT-02 *(Example)* | Interiors | Redecorate common parts | 8 | 15,000 |

### 4.1 Forecast by year

| Year | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost *(Example)* | 21,500 | 50,400 | 133,000 | 37,000 | 120,000 | 45,000 | 170,000 | 0 | 15,000 | 0 | 0 | 591,900 |

*Example:* immediate costs are 21,500 and years 1 to 10 add 570,400.
With a 10% contingency (59,190) the total is 651,090, about 155 per m2
of net lettable area, at current prices without inflation or tax.

## 5. Recommendations and next steps

<!-- Guidance: Link each recommendation to an item ID and an owner. Feed the costs into the valuation, the due diligence findings and the capital plan. -->

| Rec. ID | Item | Recommendation | Owner | Feeds into |
|---|---|---|---|---|
| REC-01 *(Example)* | PCA-FIRE-01 | Repair before completion and obtain a new certificate | Seller | `real-estate/property-due-diligence-checklist` |
| REC-02 *(Example)* | PCA-ROOF-01 | Price the replacement into the offer | Buyer | `real-estate/property-valuation-report` |
| REC-03 *(Example)* | PCA-HVAC-01 | Specify replacement with an energy review | Facility manager | `real-estate/facility-management-plan`, `compliance/iso-50001-energy-review` |
| REC-04 *(Example)* | All forecast items | Build a 10-year capital plan | Asset manager | `finance/capex-request` |

## 6. Assessor's statement

<!-- Guidance: State reliance, the date of the opinion and that conditions can change after the visit. -->

[This report reflects the condition observed on the site visit date and
the documents listed in section 1. It relies on information from the
persons interviewed. Costs are opinions of probable cost, not quotes.
Signed: name, qualification, date.]

## Standard and licence note

Structure aligned with ASTM E2018-24, Standard Guide for Property
Condition Assessments: Baseline Property Condition Assessment Process
(ASTM International, active edition, page updated 4 January 2024),
cited by name and described in original wording only. Official text:
ASTM International, purchase or licensed access:
https://store.astm.org/e2018-24.html. The text, rating scale and
examples are original. Check the current edition and use a qualified
professional. Template licence: MIT.