DILAPIDATIONS, KNOTTINGLY, WEST YORKSHIRE

Our Client was the freehold owner of an industrial unit in Knottingly which was occupied by a tenant under a full repairing and insuring lease. The tenant exercised the break option within their lease and then decided to stay in the building but wanted to negotiate a new lease with our Client, with one important change, that being to limit their future repairing obligations.

After many discussions, agreement was reached to limit the tenants repairing liabilities requiring them to maintain the building to the current condition only and not to the standard typical of a fully repairing and insuring lease.

The tenant’s surveyor prepared a Photographic Schedule of Condition. Tim Greenwood & Associates were instructed to carry out an inspection of the building to check and comment upon the schedule which was to be attached to the new lease.

The inspection was undertaken and, in addition to agreeing the schedule, we reviewed the condition of the building, taking into consideration the tenants liabilities under their existing lease. It was apparent that the tenants’ maintenance regime was not fully compliant with their current lease requirements. Accordingly we recommended our Client to impose conditions on the tenant, in conjunction with agreeing a new lease for the backlog of repairs and maintenance issues to be completed within one year of the new lease. With this approach our client was able to agree terms, whilst ensuring no further deterioration occurred to the fabric, structure and services, thereby maintaining his long-term asset value.

For further information please contact Anna King (anna_king@tg-a.co.uk , tel: 01293 804672).

P1210425

Pre-Acquisition Schedule of Condition, Hammersmith, West London

We were approached by our client, who was due to take the lease of a small café/retail unit in Hammersmith but, due to the condition of the unit, wanted to limit their potential lease liabilities.

We were instructed to undertake a site inspection and record the condition of the unit prior to agreeing the lease and preparing a Schedule of Condition setting out the condition and defects currently visible in the unit.

We prepared a detailed Schedule of Condition which was issued to the client and for attaching to the lease limiting their liabilities at the lease end.

P1210653