In this section
Instructions were received from a national retailer to negotiate the dilapidations claim on one of their closed stores.
The Landlord served a Schedule of Dilapidations (a report that provides a precise breakdown of repairs that must be scheduled to reinstate a property to its original condition as stated in the lease agreement) at £100,000.
On behalf of the former Tenant, our Building Surveyor assessed the Schedule at £48,000.
Much of the claim related to works to the first and second-floor ancillary which attracted little rental value and were likely to not be required/mothballed regardless of the condition.
Utilising this knowledge, we arrived at a Diminution (loss of value) of £20,000.
A full and final settlement was then reached with the Landlord at our Diminution figure providing the client with a swift conclusion at considerably less than the Landlord’s original claim.
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