Tenant Advisory Group has today successfully concluded a lengthy dilapidations negotiation on behalf of a Manchester based legal services firm, Towns Needham. The settlement with landlord Aviva was at 50% less than the original claim submitted by their property consultants, Savills.
Dilapidations and Re-instatement claims remain a fertile area of dispute between Landlords and Tenants. According to TAG’s senior Building Consultant, John Crowley, the risks associated with commercial property are often underestimated by tenants; “entering into a lease on a commercial property is a major undertaking and tenants need to do everything they can to protect themselves against future claims. Simple measures such as recording the handover condition at the start of the lease and ensuring that any alterations they make during the course of the lease are fully documented, are vital if you want to minimise your exit costs. All too often, information is missing or poorly recorded. That is when the problems start and the costs start to escalate.”
For more information on TAG’s building services please contact John Crowley on 0161 235 6430.