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Reynolds Associates has a proven track record in this niche area of property law and negotiating the best possible outcomes for both landlords and tenants. We apply our extensive knowledge and experience to develop and advise our clients on the most practical and commercially minded strategies available.
Acting on behalf of a leading employment support and training service provider across their diverse national property portfolio (office, industrial and retail), we negotiated a savings of approximately £570,000 against initial claims totalling over £1m (an overall saving of 53%).
Working with an economic development company, who are focused on delivering growth and prosperity to a major Northern City, we undertook a Dilapidations Liability Assessment of a 50,000 sq ft industrial unit, which they occupied as a training facility. The report identified over £400,000 of repairs, which subsequently allowed our client (the Tenant) to fully understand and budget for their repairing liabilities well in advance of lease expiry. This pro-active approach allowed them to address the Dilapidations in a timely and pragmatic matter, which ultimately saved them time and money.
We continue to work with a large, independent investment and asset management company, and have acted for them on over 20 of their properties. Their portfolio includes Offices, Industrial and Retail Units across the UK. We have successfully concluded all dilapidations claims ensuring the best possible outcome for the Landlord.
Reynolds Associates were instructed to prepare a terminal schedule of dilapidations against a prominent high street retailer, who had occupied a Landmark store for over 40 years. Following service of the Schedule and lease expiry, we were subsequently appointed to oversee the identified repair and reinstatement works as Contract Administrator in order to secure a new long term Tenant. We prepared a specification, obtained tenders and administered the works, which included significant repair and strip-out works, removal of all M&E Services and roof over-lay. The project was seen as an overall success and had a contract value of c. £185,000.