DILAPIDATIONS

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RETAIL DILAPIDATIONS – CORPORATE OCCUPIER

7th March 2013 By admin

The Brief

Over the course of this 3 year mandate Cushman & Wakefield Building Consultancy have advised Orange Retail on exit strategy and have negotiated and settled 12 dilapidations claims, both of a terminal and break option nature. The project brief was to:

  • review lease documentation;
  • survey the properties prior to lease expiry;
  • assess the current condition of each property in comparison to its likely condition and layout at lease commencement, reporting to Orange their potential level of exposure;
  • Provide strategic advice as to terminal liabilities and/or beak option conditions;
  • Negotiate cash settlements with Orange’s respective Landlord’s surveyors.

Solution

  • Develop bespoke reporting pro-forma.
  • Use knowledge and experience to provide Orange with accurate costings for budgetary purposes.
  • Employ dilapidations strategies, using experience and past precedence to reduce the level of claims.

Conclusion

Out of 15 lease expiries and break options over a 3 year period, to date 12 claims have been settled with a further 3 claims currently under negotiation, likely to be concluded in Q4 2010. Cushman & Wakefield Building Consultancy negotiated these claims resulting in a saving to Orange Retail of circa £300,000.

Keys to Success

  • Co-ordinating surveys through Cushman & Wakefield LLP’s regional offices provided for a quick turnaround and reduced fees.
  • Process was set up and managed by an experienced RICS qualified professional who has a high level understanding of the clients business requirements, resulting in effective and concise advice.

Having experience in acting for both Landlords and Tenants provides maximum potential for reducing dilapidations claims.

Filed Under: Case Studies, Occupier Case Study

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  • DILAPIDATIONS PROTOCOL IS LAW
  • FIXTURE OR CHATTEL?
  • PREPARING A TERMINAL DILAPIDATIONS CLAIM
  • OPERATING A BREAK CLAUSE – IT IS EASY TO FAIL
  • VACANT POSSESSION
  • WHY IS DILAPIDATIONS COMPLEX AND COSTLY?
  • DILAPIDATIONS NEGOTIATIONS USING THE PROTOCOL
  • DO DILAPIDATIONS WORKS OR SETTLE £ ?
  • FIXTURE OR CHATTEL?
  • OPERATING A BREAK CLAUSE – IT IS EASY TO FAIL
  • MARKET INFLUENCES ON DILAPIDATIONS TACTICS
  • VAT DILAPIDATIONS
  • DILAPIDATIONS ACROSS EUROPE
  • DILAPIDATIONS SERVICES
  • WHY USE US?
  • PROPERTY LIFE CYCLE1
  • SECTION 18 OR A DIMINUTION VALUATION?
  • SECTION 18 VALUATION COURT CASES
  • DILAPIDATIONS ACROSS EUROPE
  • DILAPIDATIONS SERVICES
  • PROPERTY LIFE CYCLE1

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