Case Study

Safestore

Client

Safestore Holdings, the UK's largest self-storage company

 

Brief

Review the company’s portfolio of UK leasehold properties, assess and report on its service charge liabilities

 

Result

Focus on the Fratton Park Portsmouth facility

Following a review of the lease, the service charge accounts and an inspection of the property we determined

that the client’s service charge liability was restricted only to costs associated with the estate roadway entering the estate.

We also discovered that the landlord, who managed the site directly, was charging a proportion of all services relating to the entire estate and was therefore in breach of the lease. This was challenged – very robustly, with guidance from the client’s legal counsel.

As a result, our client received a refund of £60K but, more significantly, they will save £170K during the remainder of the lease term.

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