Landlord enhancing building to increase asset value prior to sale

Landlord enhancing building to increase asset value prior to sale

And why it’s important to understand why the works are being undertaken…

 Remedial work can be beneficial to both the Landlord and the occupier of a building.  If your Landlord is looking to carry out works, it’s important to understand the reason behind their proposal, and investigate if you are liable to contribute to these costs.  Things may not always be as they appear to be…

In this recent case, the Landlord proposed significant remedial works to a building which was at best described as untidy, but not in dire need of remedial works.  Most would have delayed the works for a few more years. Our client’s lease was due to expire in 6 years, which raised our suspicions about the reason for the work being undertaken.

Our team carried out a review of recent planning applications, which showed that the Landlord was planning to redevelop the vacant first floor storage units into residential apartments, explaining the sudden interest in improving the building.

Fabric repairs worth £60,600 were being proposed by the Landlord. Most of the works were reasonably necessary but included several non-chargeable items such as replacement windows, doors, scaffolding, and other works relating to the redevelopment.

Assure successfully disputed the recovery of all the works that related to the plans, reducing the sums being recharged to £45,100, an overall saving of £15,500. In addition, the Landlord managed to duplicate one of the service charge collections for our client, resulting in further savings for them!

To find out how Assure can help with reducing your occupancy costs, download one of our free eBooks or fill out the contact form below:

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