Dilapidations
Dilapidations represent repair and exit costs at the end of a lease. Claims can have a serious financial implications for both landlords and occupiers. A dilapidations claim is a series of components driven by case law and legal protocols.
Chrysalis provides dilapidations surveys to help you understand exactly what is at stake and how to best deal with any claim. We can negotiate the best possible financial solution or implement repair works if required ensuring compliance with leasehold covenants.
Our role is to provide clients with easy access to key technical, management and legal skills with which to deal with any form of dilapidations exposure.
Previous Projects:
HSS Hire
5 Hanover Square, London W1
Cardinal Place, London SW1
HSS Hire
Project Goals
● Understand the extent of liability across the client’s UK portfolio and creating a strategy to mitigate risk and financial exposure.
● Continued client support on dilapidations strategy for the UK portfolio. Challenge landlord’s dilapidations claims and negotiate with the view to maximising savings.
Results
● Preparation of 24 dilapidations assessments. Provided clarity to client by identifying the correct level of liability for accounting provisions.
● Challenged landlord’s claims and intentions for premises.
● Savings – 12 times greater than surveying and consulting engineer’s costs.
5 Hanover Square, London W1
Project Goals
● Provision of dilapidations liability report to establish cost liability and subsequent tactics to mitigate risk. Negotiating on behalf of outgoing tenant within flagship West End property.
● Providing strategy in terms of minimising exposure and applying negotiating tactics to reduce the claim.
Results
● 35% reduction in landlord’s initial claim.
● Assisting client with deed of release and liaising with the tenant’s solicitors to conclude associated lease end obligations.
Cardinal Place, London SW1
Project Goals
● Providing strategic review with options to reduce cost exposure and re-instatement liabilities.
● DUG was keen to resolve all obligations and achieve settlement ahead of lease expiry due to additional expenditure connected with new office and relocation.
● Subsequently appointed to defend Landlord’s dilapidation and re-statement claim served on Down Under Geosolutions’ (DUG) London headquarters.
Results
● Resolution and settlement agreed within 8 weeks with substantial savings achieved from Landlord’s claim.
