Mill Road, Cambridge
The property is a retail building on a high street in Cambridge. TFT provided dilapidations advice and negotiation services to support the occupier in relocating from the premises. The occupier had previously held a 15 year lease and left the premises following a strip out project.
Our approach to dilapidations is to start with the facts and not deviate from them. Our team looked and assessed the condition before the lease was signed and used this as a basis for assessing the repairing liability. As this unit had a retail occupier, the tenants’ alterations played a major part and agreeing the extent of alterations was pivotal.
We were able to agree an exit with the landlord in a timely maner and to the satisfaction of the client. This approach allowed our client to focus on other interests. On behalf of the client, TFT agreed a settlement at 53% of the initial claim. The project also presented an opportunity to move away from the existing gas supply to a fully electric HVAC system. The system supported the occupiers net zero commitments, and the project reached an EPC of ‘B’ with 38 points.