Covid19 has pushed into overdrive many slowly developing trends within the property sector. The acceleration of these trends, coupled with the wider macro-economic situation caused by lock down, has resulted in many landlords and tenants being drawn into some kind of negotiation; not only because of up and coming contractual clauses, but also because of the extraordinary financial pressures that many tenants have found themselves under, especially within the retail sector.
These unprecedented circumstances have led to numerous tenants looking to end, or at least alter, current contractual obligations; whilst many landlords are looking to preserve their tenancies or maybe re-purpose their assets for the next phase of their cycle. Either way, the number of people seeking advice with regard to dilapidations has risen substantially in recent months, with both tenant and landlord trying to find a solution to an unsustainable status quo.
Paragon has an extensive dilapidations track record, having advised on individual claims up to £24 million across all property sectors. We are experienced and engaging negotiators and maintain a commercial and strategic approach to offering dilapidations advice and achieving results for our clients either as landlords or tenants.
• Dilapidations advice and negotiation for freeholders and leaseholders
• Strategic dilapidations assessments (ahead of lease end including activation of break options)
• Portfolio dilapidations reviews
• Lease obligation advice for re-letting
• Schedules of condition and pre-acquisition advice
Why choose our dilapidations services?
Our extensive dilapidations knowledge, strategic advice and non-adversarial approach delivers repeat results and seeks to avoid protracted negotiations with excellent levels of settlement. National coverage from our offices in London, Esher, Bristol, Manchester and Edinburgh ensures speed of response and local market expertise.
Our approach to dilapidations
Paragon provides dilapidations advice based on sound technical knowledge, but also a commercial realism. We understand the UK market sectors and take a pragmatic approach to the preparation of schedules. When acting for the landlord we ensure our client’s position is protected with a comprehensive schedule, whilst avoiding the mischief of exaggeration. Our commercial knowledge when defending a claim for a tenant enables us to scrutinise the claim to achieve a fair and realistic number. This includes a base line position and strategy to settle, together with a procurement of works to reduce residual claims to zero.
Our specialist dilapidations team work closely with our clients to ensure they understand the claim, settlement strategy and the areas of likely negotiation, whether they be landlords or tenants.