The Brief
Instructed by a Confidential Client to undertake end of term dilapidation assessments following the recent merger of two companies, and decision to centralise the majority of data centre facilities within 35 offices across Mainland Europe and the Middle East. The project brief was to establish end of term dilapidation liabilities and reinstatement obligations for each of the locations and outline feasible areas where data centres could be converted to increase the amount of office accommodation.
Solution
A reporting format was developed in conjunction with the Client’s regional portfolio manager. The reports provide specific information required by various parts of the business including outlining associated costs that would be recovered from a third party in connection with removal of data centre costs. Cushman & Wakefield LLP appointed external M&E Consultants to jointly co-ordinate the gathering of all the relevant information, review of leases in local language and physically inspect all assets.
Conclusion
The Client has been able to manage and understand implications and liability connected to the Real Estate element of this major business merger and associated costs in acquisition.
Keys to Success
Use of SharePoint provided a flexible platform from which to run the project both as a tracker and data store with access provided to the Client and Cushman & Wakefield professional teams.
Comprehensive network of Cushman & Wakefield LLP offices as well as selection of appropriately qualified Mechanical and Electrical Consultants from which to gather information, inspect, apply local market knowledge and statutory obligations that exist as barriers in order to meet the clients reporting deadlines and expectations. The programme is managed by Client Solutions and Project Management and Consultancy in the UK by an experienced RICS qualified professional.
