Lion Mill, Chadderton

Property description

• Synergy Health Care Plc is one of the UK’s largest providers of health care solutions to the UK Medical and Pharmaceutical sector.
• Lion Mill is a five storey traditional cotton mill built in the late 19th century. Synergy Health Care inherited the tail end of a 25 year lease on the property which included a liability for all repairs, and instructed B8RE to lead the negotiations for the dilapidations claim. The landlords claim for dilapidations exceed £4 million.
• The dilapidations process for older buildings is largely concerned with technical valuation exercises to demonstrate the real loss to the freeholder. We have considerable expertise in negotiating these claims backed up by our intimate knowledge of the occupational market and the real value of these older buildings in the context of the modern market.
• In this case we assembled a team of specialist building surveyors and lawyers to feed into the main negotiations. The claim was settled at less than £500,000.