Negotiated two FRI occupational leases – part of a previous sale and lease back.
Delivered strategic dilapidations advice.
Negotiated a 32% saving on dilapidations liability.
Interpet Group - Dilapidations Advice
34,000
sq ft
of industrial & office buildings.
Challenge
Vail Williams was appointed by Interpet Group to provide a dilapidations assessment of the properties they occupied in Dorking and Taunton in advance of a company restructure.
The company’s lease end liabilities needed careful scrutiny since the lease documentation for its properties in Dorking was complex. Not only this, but a dilapidations settlement was also required within extremely tight timescales.
How we helped
- Took time to understand our client’s needs, providing strategic dilapidations advice together with budget costs for anticipated works that would be required.
- Scrutinised complex lease documentation, including lengthy Schedules of Condition to assess reinstatement and repairing liabilities.
- Client was initially quoted a significant six-figure sum in dilapidations costs.
- We negotiated with the landlord’s surveyor to reach a financial settlement which was significantly less than this for the dilapidations claim on the Dorking site.
“We are incredibly grateful to Vail Williams for the strategic insight they brought to our dilapidations requirements. Their technical expertise and ability to assess complex lease documentation, enabled them to establish the likely financial impact, which they were then able to negotiate down significantly.”
Graham Knight, CFO at Interpet Group.
Result
- Our dilapidations assessments enabled the client to make informed decisions, allocating necessary funds for anticipated liabilities.
- In-depth building consultancy expertise ensured tight timeframes were met, by agreeing a financial settlement prior to lease expiry.
- Achieved a total saving of 32% on the landlord’s claim for the client’s site in Dorking.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.
