I work at a wholesale company that has a warehouse on the ground floor and offices on the first floor. 

My question is whether having a number of torches hanging on the walls around the building that are inspected weekly/monthly would pass as suitable emergency lighting from a legal point of view?

Thanks

 

It used to be in the guidance for very small premises, but has been removed in recent years and now the guidance only refers to proper emergency lighting. Your Fire Risk Assessment may accept such an approach but it would need to justify why it deviates from the guidance & remains acceptable. The premises do sound bigger than that covered by the old guide (aimed at small single storey premises like a lock up shop)

It would be a reasonable short term measure whilst the proper lighting is installed.