CVS Surveyors Visit Britain Case Study

The subsequent CVS negotiations resulted in savings of close to £1.5million, a figure which represented a reduction of over 50% on the initial claim.

David Parkhill, Business Services Director, Visit Britain

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Visit Britain

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Visit Britain

Savings of £1,100,000

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"As a public organisation we are always actively seeking ways to reduce our overheads. We instructed the CVS Lease Advisory team to negotiate our substantial Dilapidations claim arising from our move from our headquarters in Hammersmith in West London. The subsequent CVS negotiations resulted in savings of close to £1.5million, a figure which represented a reduction of over 50% on the initial claim.

The CVS results based fee structure provided a risk-free service and the resulting savings have allowed us to reinvest into our programmes to support British tourism. We would have no hesitation recommending their services to anyone seeking advice on dilapidations claims."

David Parkhill, Business Services Director, Visit Britain

Visit Britain is Britain’s national tourism agency, responsible for marketing Britain worldwide and developing Britain’s visitor economy. When the company moved offices, it was served with a colossal dilapidations bill of £2.6million. CVS was instructed to dispute the claim and prove that the amount was excessive.

Results

The extensive dilapidations claim covered all aspects of the building including mechanical and electrical engineering repairs, concrete repairs, decorations, external works and other items covering both tenants’ improvements and internal structures. The initial claim also included such matters as loss of rent, professional fees and void business rates. CVS assembled a specialist team of legal experts, Surveyors and Engineers in order to protect the client from the excessive bill and limit their liability. The final negotiation, which included an appreciation of both the cost of the works and the diminution in value of the building, resulted in an agreed settlement of £1.1m – a reduction of over 50% of the original claim.

CVS Comment:

"Dilapidations claims are notoriously difficult for tenants to contest as there are often complex lease covenants in place to prevent this. CVS has a team of dedicated experts in this area to help Clients to challenge excessive or unjust dilapidations claims. The Visit Britain office claim was one of the most extensive we have seen but we fought hard for a result, pulling in experts from across the business. The work paid off and we secured a great reduction for the Client."

Philip Emerick, Rating Director, CVS