Governor's House, EC4

Recovering dilapidations costs following the end of a long lease term
Medholdings, the landlord of Governor’s House, an office building, wanted to achieve the best dilapidations payment possible following a long lease where little maintenance had been undertaken. A new lease agreement had been signed off with the new tenant, a law firm who were to undertake some of the dilapidation works as part of their fit out.
How we met the objective

It was the end of a long lease and the property was in poor repair and the client didn’t expect that any dilapidations recovery was possible. The landlord had agreed with the new tenant an amount for the repairs and fit out, based on evidence presented as part of the new tenant’s tender process. This allowed us to begin the process to recover the cost of the dilapidation works from the original tenant. In addition, we found a major issue with the pipework serving the heating and cooling system, which required replacement due to internal corrosion which added a loss of rent element because of the length of time the repair work took.  

Through negotiations and our experience of recovering dilapidations costs, we were pleased to provide the client with a settlement of £26 per sq ft.

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