Surprisingly, the building had failed to sell at auction which presented Craigard with an excellent opportunity
In the meantime as the building was in a poor state of repair, an interim schedule of dilapidations had been served on the tenant in order to bring the unit up to standard.
At the same time as service of the dilapidations schedule Craigard engaged with the tenant in offering to contribute 50% to a new roof, which was a much better option than a repair, in return for a longer lease and increased rent. Negotiations have been slow but are about to conclude. This will be an excellent result.