Project
Our client was due to occupy a historic building in Hereford city centre on an FRI lease and needed to know the level of repair required to the building, and whether it was in line with the anticipated expenditure during their time at the building.
Approach
The FRI lease that our client was about to enter landed them with the sole responsibility for the maintenance, repair, and insurance of the property. Eddisons conducted a thorough condition and technical due diligence survey and report to ensure that our client was getting the best deal.
Considering its age, our team found the building to be in good structural condition. However, we did report that some works were required on the roof. Internal features were fine on the ground floor and basement levels, but the upper levels were derelict.
Our surveyors flagged a number of areas as “high risk”, needing urgent attention. These areas included outdated wiring, failures of the dry lining, fire risks, and excessive guano.
Our report also included a costed breakdown of the recommended works that we suggested should be completed before occupation, as well as expected costs and implications throughout the tenancy, i.e., the likelihood of dilapidations.
Results
Our client was able to take the results that we provided to the property owner and reduce their liability for those upper parts, omitting any future concerns of possible expenditure at the lease’s end.
