Radius Ireland Case Studies


45-47 PEMBROKE ROAD, DUBLIN


  • Diminution Valuation for Tenant pursuant to Section 65 of the Landlord & Tenant (Amendment) Act 1980
  • Building Surveyors agreed a common law claim of £515k
  • Landlord’s Diminution Valuation - £515k
  • Claim relates to outmoded offices sold at lease expiry
  • Only market for offices is to significantly upgrade - supercession
  • Property sold at a price in excess of local freehold transactions
  • Diminution Valuation - £Nil
  • Difficult for LL to prove any loss
  • Settlement - £Nil

65 GRAND PARADE, CORK


  • Section 65 for Tenant
  • Landlord’s Claim €833,000
  • Tenant’s Section 65 - €200,000
  • Property outmoded as office accommodation due to:
    • Cellular layout
    • Single glazed windows
    • Poor energy rating
    • No air conditioning
  • Likely to be redeveloped as Leisure use or upgraded offices
  • Therefore large amount of Claim superseded
  • Settlement - €475,000

43/44 PATRICK STREET, CORK


  • Section 65 for Tenant
  • Landlord’s Claim €630,000.
  • Tenant’s Section 65 - €190,000
  • Large amount of Landlord’s Claim related to excessive second and third floors
  • Landlord re-let to a temporary tenant at lease expiry, then agreed terms to Holland & Barrett
  • Regardless of condition when vacated the upper floors of no value
  • Settlement - €450,000



Paul J Raeburn BSc (Hons) MRICS DipArb FCIArb 
RICS Accredited Mediator
 
Neil Burridge BSc (Hons) MRICS ACIArb
RICS Registered Valuer

RICS Registered Valuer
Regulated by RICS
Chartered Institute of Arbitrators