The facts
Client: Ediston Property Fund
Location: London
Services: Valuation
The project
This project involved assessing the diminution in the
value of the landlord’s reversion resulting from the tenant not
having complied with its repairing covenants under a lease
(expired).
The claim was complicated by the freeholder (our client) having
stripped the building back to a ‘shell’ following the tenant having
vacated.
Capita Symonds provided an expert witness statement for
submission to the court in accordance with Part 35 of the civil
procedure rules.
Disciplines required:
- Knowledge of the relevant statute.
- Close liaison with the Capita Symonds’ building consultancy
team (handling negotiations with the tenant’s representatives) and
the client’s lawyers.
Delivery of service:
- Inspecting the property.
- Researching comparable evidence.
- Liaison with Capita Symonds’ city office agency team;
investigating and understanding tenant requirements, marketing
voids, incentives required to secure new lettings and market lease
terms.
- Liaison with building consultancy team regarding repairing
costs and, specifically, the content of the final schedule of
dilapidations.
- Liaison with the client’s lawyers regarding report content and
tactics.
- Provision of a completed report for use in court within the
designated time scale.
Our valuation was an instrumental component in achieving a
satisfactory result (recovery of damages for non performance of
repairing covenants under the lease) for the client.