Lease Surrenders/Terminations/Expiries, Renewals and Dilapidation claims Summary. The Contractor shall provide comprehensive and timely advice for the FCO, as landlord or tenant, on the most appropriate course of action to be taken when dealing with a surrender, expiry or renewal. The Contractor will undertake and manage negotiations through to a satisfactory conclusion for the FCO, including dilapidations, lease terms and exit timing/strategy. Advice shall take full account of the FCO’s statutory position, contractual obligations, estate strategy, operational needs, the condition of the building and the state of the market. Key services: - Agree strategy, objectives and future operational requirements - Review all contracts, leases and associated legal documentation - Inspect and survey property - Undertake market research, comparables and data gathering - Prepare dilapidation schedules and costings - Provide preliminary report with details of appropriate rental level, recommended tactics, etc and summary of existing tenure details - Liaise with Landlord/Tenant and key stakeholders - Undertake negotiations including dilapidation claims with Landlord or Tenant - Provide periodic progress reports - Seek to reach agreement on appropriate new rental levels and/or terms, dilapidation claims, or exit strategy or timing - Provide comprehensive final report to support a recommendation on settlement terms, claims or exit strategy - Supervise completion of the review via agreed FCO approval process and signatories - Ad hoc/General advice and guidance on lease breaks, surrenders / terminations, expiries, renewals and dilapidation claims
Appears in 5 contracts
Samples: Framework Agreement, Framework Agreement, Framework Agreement
