05-02-2022, 12:43 PM
(05-02-2022, 11:46 AM)briefcase_wanchor Wrote:(05-02-2022, 06:11 AM)Cunninglinguist Wrote: Having had to rectify so many faults not picked up in surveys, over the years, I can confirm that they aren’t with the paper they’re written on. So many disclaimers.
Seen it first-hand too from a professional standpoint and there are (like in any profession) some shabby individuals or outfits - they are ultimately culpable and insured - but there are also some firms which on reputation alone are retained in circumstances such as this. As has been said, the ground was one of the 2 biggest assets so you would be bang sure of all the issues before buying. It's inexplicable that they weren't. That's the frustrating thing. It's all very well saying they didn't but they are now putting it right so hats off to them, but that has had an impact upon their overall investment budget and hence team investment, which is why Tena shares have gone up.
Why are people assuming that the due diligence was not done on the ground ? Surely the fact that the first thing they did was put £10m in a pot to spend on the ground says they knew exactly what needed doing. All the talk at the time was about spending on the ground.
The only changes since have been as the result of changes to H&S regs, which have led to the current ground works becoming urgent. Not sure how they could have been foreseen.