CHPK were instructed By SKY to prepare an exit strategy for NHC which SKY had occupied for six years but had taken an assignment of a twenty-year Glaxosmithkline lease where significant alterations had been undertaken.
CHPK prepared schedules detailing the extent of breaches of covenant and commissioned expert M & E input into the various plant and distribution issues which were then costed. We provided advice on the likely effects of supersession and valuation arguments on the Landlord’s claim and proceeded to undertake the bare minimum of work.
When the Landlord’s schedule of dilapidations was served, costed at a significant seven figure sum, CHPK robustly defended the claim and settled for less than 10% of the sum claimed. In this instance intimate knowledge of the case law surrounding supersession and valuation issues enabled us to deliver effective advice and gave the tenant the confidence to allow us to fully engage in the negotiation process without undertaking extensive works.
