INSTRUCTION SYNOPSIS

Back in 2011 our client was undertaking a strategic review of their business and a review of their current property stock formed part of this exercise.

Propitas were instructed to undertake a part desktop and part site based review of 8 no. nationwide properties to advise on their likely dilapidations liabilities.

Between specific site inspections and collating historic cost data along with our extensive experience in dilapidations negotiations and settlement we were able to provide reports and a schedule of likely future dilapidations liabilities for each property.

Subsequently our initial advice has been tested on several occasions where leases have expired and we have advised our client on dilapidation strategies along with either negotiating settlements or managing and undertaking the works, all at a more cost effective solution than the Landlord’s dilapidations claims.

We have also acted for this client in dilapidations advice and acquisitions of other property in their portfolio in recent years.

HOW PROPITAS ADDED VALUE

By assisting the client with their strategic review Propitas provided a benchmark for the clients financial planning and key property decision making process.

Our own advice has been tested and we have subsequently achieved savings of between 20{6ff76034d22c88ec70f1c9ef4ccd6ce12f1c3e773bb3a9ade06de0decae2fb76}-40{6ff76034d22c88ec70f1c9ef4ccd6ce12f1c3e773bb3a9ade06de0decae2fb76} of expenditure from our original projections.

Accordingly our client is very happy with the service, strategic advice and results we have obtained, resulting in further instructions.