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- Therefore large amount of Claim superseded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
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