Dilapidations assessment for Milton Keynes business to assist their acquisition

Overview

Kirkby Diamond recently advised a Milton Keynes business who were intending to acquire the premises they currently lease. The estate on which they currently lease had been put on the market to buy.

Our Client currently let 3 units from the Landlord and were interested in understanding their leasehold dilapidation liability and how this would impact on the purchase, should they decide to acquire the Freehold.

Our building surveying team reviewed the lease and appraised themselves with the liabilities in advance of inspecting the building, noting the potential liabilities that existed.

Result

Our report advised the Client on their dilapidations liability and was presented along with further advice from Kirkby Diamond’s Agency department advising the Client on the most appropriate next steps. Our Client was able to consider their overall lease liabilities when considering the purchase price and whether being able to own the freehold made better economic sense than having a leasehold liability.