The recession has seen many corporate operators reduce their costly property exposure by “walking away” at lease expiry.

Whilst most closure costs can be reasonably predicted, those relating to dilapidations can hang like a sword of Damocles, creating budgetary uncertainty and unwelcome accruals for finance directors well beyond lease expiry and vacations.

We have the strategy for addressing these issues.

We are a firm of Chartered Surveyors with our Head Office facility located in the centre of England, thereby best placed to assist its Directors and Associates operating throughout England & Wales.

We are the only firm of Chartered Surveyors specialising in providing landlords and tenants with commercial property valuation advice in the context of dilapidations claims.

Whilst the relevant piece of legislation is old, section 18 [1] of the Landlord & Tenant Act 1927 effectively provides that a landlord’s damages claim in respect of a tenant’s repairing obligations under a lease shall not exceed the amount [if any] by which the value of the property is reduced due to the disrepair.

Further, that no damages will be payable if it is shown that the premises, in whatever state of repair they might be, would at, or shortly after, the lease end be pulled down or otherwise substantially altered.

These are commonly referred to as the “First Limb” and “Second Limb”.

We receive instructions from fellow professionals including building surveyors, solicitors and barristers, as well as an enviable collection of blue chip companies. Some of our Clients are shared with our sister company which provides a broader range of related services in respect of retail and commercial property valuation and agency advice.