Case Study
Preparation of Schedule of Dilapidations
Office Occupier
Address
Hambleden House
19-26 Pembroke Street Lower
Dublin 2
D02 WV96
Ireland
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Email: info@bannon.ie
The Task
Bannon manage a high-profile office block located in a prime location in Dublin City Centre. An occupier served their break notice and confirmed they were vacating the property. As Managing Agents, we reviewed the Lease and confirmed that the Occupier had served the break in line with the Lease.
In addition, we also reviewed the Lease and paid particular attention to the yielding up clause. From this, we ascertained that there were works to be carried out on the property in order to comply with the yield up provision.
The Skills
As Management Surveyors it is essential that we are able read and understand the intricacies of leases. Following the lease review and an inspection of the unit, we were able to ascertain that the covenants of the lease had not be adhered to. We advised the Owner of this and offered the following solution:
- We engaged a chartered building surveyor to undertake a Schedule of Dilapidations survey on the subject property.
- Following completion of the Schedule of Dilapidations we entered negotiations with the Occupier to reach a settlement on the dilapidations claim.
Following completion of the negotiations, we made recommendations to our client. The client accepted our recommendations, and the matter was settled to their satisfaction.
The Result
By using our industry knowledge and experience, the Bannon Management team was able to ensure that all covenants contained within the lease were complied with. This included ensuring that the break notice was served correctly and ensuring that the yield up provision was complied with. By reaching an agreement on the level of dilapidations claim, we were able to protect our client from any costly repairs on the subject property. This allowed the property to be ready for marketing and relet as soon as possible after being vacated.
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