Instruction Synopsis

Propitas were instructed on behalf of a client in the process of acquiring another business. As part of the transaction they required a record of the condition of 6 no. properties which were subject to existing occupational leases.

The properties comprises 5 no. offices and 1 no. industrial unit located in Leeds, Nottingham, Bristol, Dundee and Ipswich.

HOW PROPITAS ADDED VALUE

Due to our geographical nationwide coverage and ability to act quickly in accordance with the timescales for the transaction we were able to inspect each property and prepare accurate information on the condition of each demised premises.

Prior to our engagement we requested the property information for each site and reviewed the occupational leases and all drawings available to ascertain the type of property and repairing obligations in order to prepare our fee proposal.

Following instructions, we scheduled inspection dates and made access arrangements.

The preparation of the schedules of condition were accurately detailed and itemised in a clear way to benefit our client for the purpose of the commercial transaction, during the agreed lease term and eventually at lease expiry

The sheer number of individual rooms within some of the properties provided a substantial task, however, Propitas ensured the client was made clear on the condition of every room with photographic and descriptive evidence, picking up any existing defects noted during our inspection.

Our comprehensive schedules provided the client with extensive evidence to effectively support any disputed dilapidations claim moving forward both the respective Landlords and the Vendor.

KEY INFORMATION

• Portfolio of 6 no. properties
• Preparation of photographic and written schedules
• Identification of existing internal and external defects
• Highlighting maintenance concerns during the lease term
• Thorough evidence provided to protect the client’s interests