Paddy Power Plc (Bookmakers)

Valuation and Professsional Services Case Study

Valuation and Professsional Services
Paddy Power Plc (Bookmakers)

Client Background

Leading online bookmaker in the world headquartered in Dublin, Ireland with 191 retail branches nationwide (south and north). Separate UK chain of bookmaker shops administered in the UK.

Occupier Services provided

  • Lease Audit – 60 branches with rent reviews outstanding since 2008. Completed within 3 weeks of instruction containing lease summaries, strategy advices, time lines for project end.
  • Diary Events – Break Clauses, rent review dates, service of notices etc.
  • Landlord and tenant advice including lease renewals, dilapidations, service charge liability -
  • Rent Review negotiations.
  • Strategy advice surrounding potential acquisitions.
  • Expert witness and arbitration representation.
  • Commercial rates negotiation and tribunal representation.

Performance Highlights

  • 4 leases renewed in the last 6 months with rent reductions on average 50% +. 30no rent reviews settled at ‘nil increase’ since July 2012.
  • Valuation services.
  • Positive client feedback and significant future pipeline of instructions.
  • Introduction of GVA NI to Paddy Power.