Dilapidations and High Street Retailers
Many shop-owners and traders are unaware of the regulations concerning dilapidations and high street retailers. Historically, retailers inherit the entire building when leasing a high street building. In the majority of cases the retailer will only fit out the retail area and will neglect the maintenance of the remainder of the building. This can result in the rest of the building falling into disrepair.
Often retailers are unclear of their responsibilities under the terms of their lease and as a consequence they can incur large costs. It is imperative for retailers to meet their interim and terminal dilapidations obligations in order to comply with the terms of the lease.
RWS Ltd take over the full management of the building on behalf of the retailer. This gives cost-certainty and helps to keep construction costs to a minimum, allowing the retailer to concentrate on what they are good at.
How we work with high street retailers
RWS have many years experience of working with dilapidations and high street retailers and have a complete understanding of what is required for a tenant to meet their obligations. This includes both during the term of the lease and when a property’s lease comes to an end. RWS are fully aware of the pitfalls and the huge financial consequences against the tenant if these terms are not fully met.
RWS are specialists in the whole dilapidation process. We fully review the lease documentation to ascertain the total remit of our clients’ obligations. In lieu of an interim/terminal Schedule of Dilapidations not being disclosed by the landlord, RWS will attend site and prepare a full Schedule of Wants and Repairs on the retailer’s behalf.
Where a suitable financial settlement cannot be sought, Our fully qualified, experienced dilapidation operatives will complete all the required works as detailed within the interim or terminal Schedule of Dilapidations.
Our surveyors liaise fully with the tenant during the term of the lease and with the landlord and their agents throughout the terminal dilapidations process. This ensures a seamless handover and obtains a full sign off. It also ensures that any further financial liabilities or claims for the client are resolved.
For more information on how we can help with dilapidations for high street retailers call Kirk Brawn or Stewart Liberatore on 01733 351136 or email email@example.com