Dilapidations Assessment – Finsbury Circus, London

We are delighted to have been recommended to a new Client by an existing one to undertake a dilapidations instruction in Finsbury Circus in London.

Our prospective Client occupies a floor of a multi occupied office block. Their lease for this office expires later this year.  The Client has not had any contact from his landlord to discuss the potential dilapidations. The Client wishes to take a pro-active approach in dealing with the dilapidations. 

We have been asked to provide a quotation to prepare a Dilapidations Assessment Report.  To undertake an assessment we will need to review the lease and a licence for alterations, undertake a site inspection and report on their liabilities in accordance with the terms of their lease and licence for alterations.  These liabilities typically fall into four categories which are reinstatement, redecoration, repair and compliance with statutory requirements.   We would review the implications of each element, identify the scope of works required to address them and provide budget costing for the Client to consider and budget for.

We recommend that tenants are proactive in their approach towards dilapidations. This allows them to retain some control over the potential dilapidations and their costs.  If tenants understand their dilapidations liabilities they can plan for them. This includes deciding if they wish to undertake the works themselves or negotiate and agree a financial settlement with their landlord.  Whichever is the tenants preferred option we would recommend that early advice will allow them to make informed decisions. This will allow them retain some control on the process and the costs.  After lease expiry a tenant has no legal right of entry to undertake the works themselves. This can leave them liable to the potentially higher costs of the landlord doing the works.

Tim Greenwoods and Associates we are experienced in providing dilapidations advice for both landlords and tenants. We are able to provide them with dilapidations advice, preparing dilapidations assessments, schedules of dilapidations and negotiating dilapidations settlements.  We work hard to ensure we provide our Clients with tailored advise and an excellent service.