THE BRIEF
Project: Industrial unit dilapidations claim
Location: Ermine Business Park, Huntingdon
Sector: Industrial
Client: Tenant of the industrial unit
Service provided: Building Consultancy: Dilapidations Liability Assessment and Claim Management.
Challenge: Managing a substantial dilapidation claim on an industrial unit, with the aim of reducing the tenant’s liability and facilitating an early lease surrender.
Client Testimonial
“Innes England’s Building Consultancy Team provided invaluable guidance and negotiation expertise in managing our dilapidation claim. Their strategic approach led to a substantial cost saving for us and a favourable early lease surrender, demonstrating their commitment to achieving the best value for their clients.”
The Solution
Strategic dilapidations management by Innes England’s Building Consultancy team:
In-depth liability assessment: Conducted a thorough assessment of the tenant’s potential dilapidations liability, factoring in historic alterations and potential superseding landlord work.
Clear understanding of lease obligations: Provided clarity on the alterations made prior to the lease and their implications on the dilapidation claim.
Negotiation and settlement: Successfully negotiated a significantly reduced settlement.
Early lease surrender: Facilitated an early surrender of the property, benefiting both the landlord and the tenant in terms of cost mitigation.
The Results
Substantial cost savings: Achieved a significant reduction in the dilapidation claim, bringing down the original claim of £125,861 to £50,000, saving the client £75,861.
Mutual benefit for landlord and tenant: The early surrender arrangement was advantageous to both parties, allowing them to mitigate their respective costs.
Client satisfaction: Delivered an outcome that far exceeded the client’s expectations in terms of financial savings and lease flexibility.
Conclusion
This case study at Ermine Business Park, Huntingdon, highlights Innes England’s expertise in dilapidations management within the industrial sector. This effective strategy not only significantly reduced the dilapidation claim for the client but also facilitated a mutually beneficial lease surrender. This project underlines our ability to navigate complex lease obligations and deliver outcomes that protect and benefit each client’s financial interests.