BRIDGE LANE, PENRITH
- Section 18 for Tenant
- Landlord’s Claim £705,000
- Section 18 - £100,000
- Settlement - £220,000
- Local comparable transactions, and similar fact agency experience, illustrated that certain works would not be ‘value affective’
- Such included many of the internal redecoration works to the warehouse floor and beams, blockwork walls and cladding
- Valuation provided B.S with ammunition to achieve a substantial reduction
THREE ELMS ROAD, HEREFORD
- Section 18 for Tenant
- Landlord’s Claim £235,000
- Property relet to The Range
- Landlord’s claim included £168k to reflect rent free incentive given to new Tenant
- Section 18 - £25,400
- Local comparable transactions illustrated rent free incentive market led, rather than as a result of any items of disrepair
- Settlement - £50,000
82 HIGH STREET, BANBURY
- Section 18 for Tenant
- Landlord’s Claim - £661,306.47
- Section 18 Valuation - £175-£200,000
- LL agreed letting immediately after expiry
- Detailed analysis of Heads of Terms identified certain works required by ingoing tenant
- But not all of LL’s Claim - therefore not all works will have positive impact on value
ISLE OF SHEPPEY
- Section 18 for former Tenant
- Landlord’s Claim - £226,477
- Tenant’s Response - £45,949
- Parties had reached a deadlock in negotiations
- Settlement - £12,875 (inclusive of Radius fee)
- Our report provided ammunition to illustrate that very few, if any, of the works agreed between building surveyors would impact the lettability including:
- Internal Decorations – to be superseded by fit out of new ingoing tenant
- Strip out of partitioning to create ‘back of house areas’ – likely to be retained in the short/medium term and be utilised by a temporary occupier
CIArb exists for the global promotion, facilitation and development of all forms of private dispute resolution around the world to maximise the contribution that dispute resolution practitioners make
Paul J Raeburn
BSc (Hons) MRICS DipArb FCIArb
RICS Accredited Mediator
Neil Burridge
BSc (Hons) MRICS ACIArb
RICS Registered Valuer
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