Pre-Acquisition Feasibility Study
Know what a property will cost to refurbish before you exchange. One assessment, covering planning, structure, and design potential.
Buying a period property in London is not straightforward. The purchase price is visible. What is less visible — and often more consequential — is the cost and complexity of bringing the building to the standard the buyer has in mind.
A pre-acquisition feasibility study gives you that picture before you commit. Not an estimate built on assumptions, but a considered assessment of the specific property: its planning constraints, its listed status if it carries one, its structural condition as far as can be determined before works begin, and its realistic potential given the client's brief.
Phasezero Design Studio carries out feasibility assessments for buyers at all stages — before an offer is made, during the conveyancing period, or ahead of a decision to proceed with a project that has already been purchased.
What a feasibility study covers
Planning constraints and permitted development Every property sits within a planning context. Conservation area designation, listed building status, Article 4 directions that remove permitted development rights, proximity to neighbouring properties that will trigger party wall requirements — these are the constraints that determine what can be built and on what timeline. We assess the specific property's planning position and give you a clear picture of what will require consent, what will not, and what is unlikely to be consented regardless of how it is presented.
Listed building status and consent requirements A listed building carries consent requirements that go well beyond planning permission. Internal works that would be straightforward in an unlisted property can require a formal application and a conservation officer's agreement in a listed one. We identify the constraints that apply to the specific building and the specific works the client has in mind.
Structural assessment and likely discoveries Period properties accumulate alterations. Floor structures that have been modified, drainage that has not been updated in decades, party walls that previous works affected without formal agreement — these are the discoveries that derail programmes and inflate budgets when they arrive as surprises. A feasibility assessment looks at what is visible and what the evidence suggests, and gives you a realistic view of what a full refurbishment is likely to find.
Design potential and realistic scope A feasibility assessment is not only a risk document. It also establishes what the property can become: the realistic scope of works given the planning context, the structural conditions, and the client's brief. Where the constraints limit what can be done, we say so plainly. Where the property has potential that the current condition does not reflect, we identify it.
Programme and cost framework We provide a realistic programme — the timeline from planning application to construction completion — and a cost framework that reflects the scope of works the feasibility assessment identifies. Not a quantity surveyor's estimate, but a considered view of the range and the factors that will determine where within that range the project lands.
Who commissions a feasibility study
Buyers before exchange The most common moment for a feasibility assessment is during the conveyancing period, after an offer has been accepted and before exchange. At this point the buyer has access to the property for inspection, the purchase is not yet committed, and there is still time to negotiate on price if the assessment identifies significant issues or costs. This is the highest-value moment for a feasibility study.
Buyers before an offer Where the property is competitive and the buyer wants to move quickly, an assessment before an offer allows the bid to be informed by a real understanding of what the refurbishment will involve. This is particularly valuable for properties that have been marketed without recent renovation — the gap between the asking price and the true total cost of ownership can be significant.
Owners planning a refurbishment Clients who already own a property and are beginning to plan a full refurbishment commission a feasibility assessment to establish the framework before detailed design begins. This avoids the situation where a design process runs for months before the planning constraints or structural conditions are fully understood.
How the assessment works
We begin with the available information: the property listing, the planning history, the land registry record, any structural survey already commissioned. We then visit the property and carry out our own assessment.
The output is a written report covering planning constraints, listed building requirements, structural observations, design potential, programme, and cost framework. We discuss the findings directly with the client and answer questions about what the assessment means for the purchase decision or the project ahead.
The assessment is carried out by the same studio that would design and manage the refurbishment. That means the findings are not generic — they are specific to the works the client has in mind, assessed by a team that understands what those works involve.
Questions we are often asked about feasibility studies
How long does a feasibility assessment take? From instruction to report, typically 2 to 3 weeks. Where the conveyancing timeline is tighter, we discuss what can be delivered within the available time.
Does a feasibility study count toward the refurbishment fee if we proceed? Yes. The feasibility assessment fee is credited against the studio fee if the project proceeds to full design and project management with Phasezero.
What properties do you assess? Primarily period properties in London — Georgian, Victorian, and Edwardian residential, including listed buildings and conservation area properties. We also assess properties outside London where the project is within the scope of work we typically carry out.
Can you carry out an assessment if we have already exchanged? Yes. An assessment after exchange still establishes the framework for the project ahead and avoids the structural and planning surprises that derail programmes and inflate costs during construction.
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Commission a feasibility study
If you are considering a property purchase and want to understand the refurbishment scope before you commit — or if you own a property and are beginning to plan a full refurbishment — we would like to hear about it.
A short message about the property and what you are trying to understand is enough to begin.
Or email us directly at contact@bd-phase-zero.co.uk
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