Flexfab Europe Limited is a multi-national company specialising in the design and manufacture of high quality silicone and elastomeric products. After tenanting a new 26,000 sq ft manufacturing facility on a full repairing lease, Flexfab was contacted by a neighbouring occupier who had received a considerable terminal dilapidations claim. Flexfab subsequently instructed us to advise them on their potential dilapidations liability and how they might mitigate their position – as a matter of financial due diligence and to help inform their future strategy.
- Notional dilapidations assessment
After reviewing all relevant leasehold documentation, licences to alter and associated drawings, we reviewed Flexfab’s repairing obligations and undertook a full dilapidations inspection of the 26,000 sq ft premises, adhering strictly to the lease terms. Following the assessment, we established a notional ‘worst-case scenario’ dilapidations sum, explaining the basis and findings of the assessment to Flexfab and advising them accordingly.
Flexfab (Europe) Limited was highly satisfied with our notional assessment, providing positive feedback – especially regarding the help it has given them with effective budget planning. Flexfab was able to make strategic property decisions, act to mitigate their position and use the figure for their own internal accounting purposes.
'Notional dilapidations sum £180k'