Many high-street retailers evaluate their portfolios on a regular or sporadic basis. Occasionally, this leads to the closure of one or more locations.
Closures can be problematic to the retailer, what do they do with that retail unit after the decision to close has been made?
Retailers are often unclear of their responsibilities under the terms of their lease and as a consequence they can incur large costs. It is imperative for tenants to meet their interim and terminal dilapidation obligations in order to comply with the lease.
We advise our clients that the best course of action is to start with (what RWS call) a ‘strip-out’. This involves removing all corporate identity and fixtures and fittings from the retail unit and ancillary areas.
The strip out process is relatively quick and can be completed to the client’s individual specifications. A site survey by one of our qualified dilapidation specialists is required to derive a specification.
Our Surveys are tailored to the client’s needs and requirements, these can include:
Full photographic survey (including referencing to lease documents) Lease review, Asbestos surveys and sampling, Thermographic surveys, Competitively priced survey report including costings and breakdowns for works to be completed, AutoCAD layout drawings. Each project is treated on its individual merits and the tasks needed to be completed to meet the requirements of the lease.
What next? Dilapidations!
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 Dilapidation.
Our surveyors liaise fully with the tenant (during the term of the lease) and with the landlord and their agents throughout the terminal dilapidation process. This ensures a seamless handover and leads to a full sign off. It also ensures that any further financial liabilities or claims for the client are resolved.
If you need to discuss a ‘strip-out’ or dilapidation project then please don’t hesitate to contact us