About the Project.
Project Requirement & Process
Consul were appointed to act on behalf of the Tenant St Mungo’s to negotiate a dilapidations settlement. We were provided lease documentation and floor plans, we then attended the property to carry out a survey and prepare a dilapidations schedule.
Details
Client
St Mungo’s
Services Used
Survey Scope
Walsingham House comprised a 15-bedroom sheltered housing scheme, which had been occupied on full repairing and insuring lease terms for 5 years. To complete the survey, we took photos of all rooms within the building and noted all defects and required repairs. We could then utilise this information and refer to the lease to determine what elements should be included in the claim and what should not.
Challenges
Processes required careful consideration and interpretation when assessing the potential dilapidations liability at the end of the lease and how this may affect a potential claim.
Understanding the range of property decisions, for example, whether a lease should be renewed or exercise a break clause; whether to re-let or redevelop.
Solution
Consul achieved a 38% (over £85K) reduction on the initial Terminal Schedule of Dilapidations served upon them.
Result & Benefits to St Mungo’s
- Detailed understanding of lease obligations, as well as managing Tenants on how to comply with them
- Budget certainty – through experience and knowledge Consul was able to provide accurate assessments of prospective dilapidations requirements
- St Mungo’s benefitted from our experienced dilapidations building surveyors and their guidance towards the Landlords and Tenants, specifically in relating the job to case law to cement our findings and consequent savings.
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