Shipping Company - London SW1
4 floors of this 30,000 sqft self-contained period converted office building in Victoria were due to be vacated at lease expiries. Route One were instructed to assist in preparing the building for marketing to new prospective tenants, specifically in relation to dilapidations, a Cat A refurbishment of the vacated floors and the external decorations.
The principal challenge was to reach a suitable settlement with the out-going tenants in order to secure funds to enable the refurbishment of the vacant floors. This needed to be achieved as quickly as possible so that the refurbishment works could be completed and rental voids minimised. In parallel with this the external decorations, which had not been undertaken for more than 8 years, had to be completed in time for marketing. This, together with separate contracts running for M&E works and common part refurbishment meant that co-ordination between different project managers and contractors was paramount to ensure a smooth contract period.
By utilising competitive market rates obtained through reputable contractors Route One were able to defend the dilapidations claims and circumvent lengthy negotiations with the tenants and the representatives. This expedited the release of funds to allow refurbishment work to commence within 1 month of the lease ends.
Following successful settlement of the dilapidations claims Route One successfully project managed the Cat A refurbishment which was completed in 11 weeks, on budget and funded by the dilapidations monies recovered. The external decorations were also completed in time for the building being presented to the market.