Whether you are an owner or occupier of commercial property, getting the right advice pre-lease, during the term and post lease expiry is key. Our firm of Chartered Surveyors has the relevant expertise and experience in all areas of commercial property to help you make the right decision.
This process involves undertaking a detailed inspection of the building elements, collating all available site information and reporting on the condition of the property. We will also set out the key issues and financial implications for your consideration before proceeding with the acquisition.
This allows our clients to make an informed decision during the pre-acquisition negotiation stage and can be used to substantiate their position when negotiating a reduced sale offer or a financial contribution in lieu of the necessary works being undertaken.
This assessment is undertaken on behalf of a tenant prior to agreeing a new lease of a property. This involves a detailed lease review and inspection of the premises, which allows us to make tenants aware of their potential dilapidations liabilities and repairing obligations before entering into a new lease.
Upon completion of the reporting process, our clients can seek to minimise their potential dilapidations liabilities by insisting the landlord undertakes the necessary repair and reinstatement works or negotiate a capital contribution from the landlord in lieu of the works.
A Schedule of Condition is a photographic record and written statement that records the condition of a property at a particular date. In order for the schedule of condition to be formally recognised, it should be agreed by both the landlord and tenant, or someone authorised to act on their behalf before being referenced in the lease and appended.
“Dilapidations” refers to breaches of lease covenants that relate to the condition of a property during the term of the tenancy or when the lease ends.
When a tenant commits to a commercial lease, they are essentially signing a contract that requires them to repair, decorate, clean and maintain mechanical and electrical installations. Failure to keep the premises in repair during the term or deliver the property in the condition required by the lease can give rise to a dilapidations claim, which can often run into tens of thousands of pounds.