Panavision Dilapidations Rectification

Panavision Dilapidations Rectification

Greenford

Client Brief

Malcolm was appointed by Panavision Europe to manage their lease ends in 5 industrial Units in Greenford, Middlesex.

Key Issues

  • Tight Deadline to Achieve Lease End Dates
  • Multiple Units
  • Multiple Tenants/Sub-Tenants

What We Did

There were multiple scenarios to be taken into account, including vacation of units and rectification of dilapidation works before lease end, negotiation with principal Landlord over dilapidation liabilities at lease end to allow previous sub-tenants to take on new lease terms without dilapidations liabilities carrying over, agreement of new leases with Landlord for previous tenants to continue in occupation.

MHA’s multi-disciplined approach was utilised and allowed us to project manage over £250k in rectification works in 8 weeks over the inclement Christmas period in 2010.

Negotiated dilapidation settlements on 3 other units also resulted in substantial reductions in monies claimed.

“Your efforts have meant the Company have been able to keep its dilapidations costs at a level significantly below the original estimates.”
Bill Gosland
FD Panavision Europe Ltd