15th November 2012
Dilapidations are little thought about until the end of the lease, at which time they invariably come as a major shock to both landlords and tenants.
Acting on behalf of one of Yorkshire’s principal industrial investors, Joseph Ogden Ltd, NG have successfully negotiated the refurbishment of a 12,000 sq ft industrial warehouse at Annesley. A Terminal Schedule of Dilapidations was prepared and served on the tenants who, after negotiations, agreed to carry out the works themselves rather than settle by way of a cash damages payment. Richard Brown of NG Chartered Surveyors negotiated and supervised the £100,000 refurbishment project, leaving the property ready for re-letting.
Richard Brown of NG Chartered Surveyors acted on behalf of pharmaceutical specialists, Cadum & Iba Ltd, tenants of a 4,000 sq ft office building at Castle Quay in Nottingham. The landlord’s original claim was negotiated to remove excess or unwarranted items which, together with NG’s recommendations to the tenant to carry out selective repair and decoration works where these could be undertaken at considerably reduced cost on that claimed by the landlord, resulted in an original landlord’s Schedule of Dilapidations claim of approx. £85,000 being reduced to a net settlement paid by the tenant of £16,000.
Richard Brown commented “Dilapidations are a mysterious subject to most parties, and often considered one of the ‘grey arts’. We are able to successfully act for both landlords and tenants, having the knowledge in the other’s respective fields, to achieve the best result for the client”.
For further information, contact Richard Brown direct.