Johnston Houston has been instructed in March 2023 to provide dilapidations consultancy advice for the purchaser of 39 Corporation Street, Belfast. This prestigious building known as “The Design Centre” was refurbished 20 years ago. The Tenant has been occupying the premises under an effective full repairing lease and its leasehold interest in the premises is due to expire in June 2023.
Given our extensive experience in the field of dilapidations, the purchaser asked Johnston Houston to review the Tenant’s leasehold obligations, inspect the subject premises and prepare a Schedule of Dilapidations for service on the Tenant.
Johnston Houston surveyed the premises within 1 week of instruction, and prepared a Schedule of Dilapidations schedule we are now instructed to engage with the Tenant to secure a financial settlement based on the Tenant’s contractual obligations and the Law of Dilapidations in this jurisdiction.
As the Premises are held under an internal and external repairing lease, this required a detailed survey of the entire interior and exterior of the property, an assessment of defects and relevant breaches of covenant and necessary remedies. By a process of negotiation, Johnston Houston aim to secure a significant dilapidations settlement based on the Standard of Repair required under the lease.
