Bannon - 2/3 Exchange Place

Case Study

2/3 Exchange Place
Lift Replacement

The Task

In early 2021, lease renewal discussions took place between the owner and the occupier of the building from an IRI to FRI lease. At this time, the lift was fully operational, not in disrepair but had reached the end of its life cycle. A condition survey was carried out by Dunbar Boardman (Lift Servicing Consultants). It was recommended that a full lift replacement be carried out.

As part of the renewal, the owner agreed to pay for the installation of a new lift. Finally, a Tender & Specification document was received from Dunbar Boardman (which included a proposed Collateral Warranty). This was fully executed by all parties.

The Skills

As standard practice, insurance, method statement, RAMS and an indemnity to the Owner for proposed works were received in advance.

We advised the occupier in advance of the works commencing. This included providing a full itinerary including timeline of works and contractor details. Various progress meetings took place on site which included the property manager, occupier, contractor & lift servicing consultant representatives. Working in harmony together on the lift replacement project was crucial for ensuring safety, efficiency, and occupier satisfaction. It helped mitigate potential issues and reduced disruptions. This effective collaboration was a win-win for all involved.

The Result

The project resulted in the successful completion of a lift replacement upgrade for the building and most importantly a 10-year lease renewal. This well executed lift replacement resulted in a positive working relationship between all parties while also enhancing the value of the property.