120 West Regent Street | Glasgow
The initial role at 120 West Regent Street was to advise the client on the potential dilapidation liability associated with the out-going Tenant’s leases and to give consultancy advice on the level of refurbishment required following vacation of the property.
Following the advice, we prepared and served schedules of dilapidation and negotiated six-figure settlement figures on behalf of the Landlords.
Trident was then instructed to coordinate and procure the refurbishment of all six floors of offices and the communal areas within the existing office building at 120 West Regent Street, Glasgow on behalf of Adapt Real Estate.
The property is a traditional multi-let office property constructed in the late 1990s which had been let since it’s first development to a number of Tenants. The clients acquired the property with the intention of refurbishment the office suites, common parts and building services in order to create modern offices at an increased rent.
The role involved managing the project from design team appointment, through feasibility to procurement and implementation of the scheme with a total spend of around £600k in phases.
Initially the reception areas and heating systems were upgraded with the Tenant’s in occupation; there after the offices were refurbished once vacant possession was obtained.
- Management and negotiation of a substantial dilapidation settlement ahead of proposed refurbishment works.
- Collaborative Value Engineering with the main stake holders including the owners, asset managers and agency team.
- Management of churn to facilitate phased completion and hand-over to new Tenants during the project.