Acting for the owner of an iconic freehold building in Aylesbury, Buckinghamshire, comprising 64,000 sq ft of a Grade A office building. The property had been constructed around 1982 and is known colloquially as the “Blue Leanie”. The property had previously been let in it is entirety, having been originally occupied by The Equitable Life whose business was merged into the Lloyds Banking Group.
Having received back the property at the end of the lease, there was a significant level of damages. Our client, Regional REIT Plc, identified a terminal dilapidation’s damages claim in conjunction with their external building surveying team. They were looking for valuation experts to ensure the claim was properly presented.
The DWD Valuation team provided expert valuation evidence pursuant to Section 18(1) of the Landlord & Tenant Act 1927. They assisted in the settlement of the claim in advance of a of High Court hearing with valuation advice reported to the client.
The overall result was a beneficial settlement in advance of the Trial in a substantial claim for damages for our Landlord client relating to disrepair at lease end.