Page 721 - (A) Mammoth (998pp)

turning back.
Note:
i) I have purposely raised this from £1,724 to £1,975 as we would have to take into account inflation, a revised set of EXTERNAL Quotes (all at present expire on 31st July) and most importantly having some spare Reserves for other matters needing attention at Mitre House between now and September next year.
ii) By delaying yet another year, Freeholder permission or not (no chance anyway) - if anybody slips on the fire escape, or a door falls off and injures someone, or a brick falls from the roof - you, me, Jamil and Segar will end up in the Bastille followed by a guillotining at La Place de la Concorde - so beware!
iii) I appreciate that Wade might come in with a cheaper EXTERNALS quote than £78,468. 80 incl Vat (including fees) in which case some amounts above can be slightly adjusted, but any adjustments will be small and not significantly important.
MY ORIGINAL REPLY WITH ERRORS.......
On 15 May 2014, at 18:34, Mitre House Management Ltd <studio@graffiti.biz> wrote:
Dear Michele,
Thank you for you email of today ref. WADE QUOTE.
As you will note, Wade's Quote totals £158,805 plus VAT, resulting in a total outlay of £190,566 plus fees and misc contingencies.
I think it would be fair to assume £205,786 all in (Internals/Externals) from previous experience and for safe comparison against all other quote totals as outlined on the recent Section 20 Notice_2 which outlined all quotes to date (attached for ease of reference).
You will note the cheapest quote to date is that from A & R Lawrence for £106, 541 incl. VAT and fees and contingencies.
BUT, A & R Lawrence's quote does NOT include WADE's additional £13,802 plus VAT for a super Terrazzo clean & repair.
Consequently, if we were to reduce WADE's quote by £13,802 plus VAT for fair comparison, it would TOTAL £189,223 versus A&R Lawrence's £106,541
Still a considerable difference of £82,582
As I am presuming you might now argue fees and contingencies, I therefore give you the very same same figures BUT without fees and contingencies for both WADE and A & R Lawrence, namely:
Wade Quote exactly as presented is £158,805 plus vat - therefore £190,566
A & R Lawrence Quote exactly as presented is £76,101 plus vat - therefore £91,321
BUT, A & R Lawrence's quote does NOT include WADE's additional £13,802 plus VAT for a super Terrazzo clean & repair.
Consequently, if we were to reduce WADE's quote by £13,802 plus VAT for fair comparison, it would then TOTAL £174,003 versus A&R Lawrence's £106,541
A difference again of £67,462 - that's sixty seven thousand, four hundred and sixty two pounds.
If, as you are suggesting, in fact insisting, we retain WADE as contractor for both Interior/Exterior, I think you'll find that the (A) and (B) proposals I suggested you refer to your majority of Lessees is now somewhat even MORE EXPENSIVE TO FUND.
I am somewhat at a loss to understand your insistence that the Externals are done next year and no attempt be made to put funds away to cover them until such time as the Internals are finished this year. Obviously, by doing as you suggest, once the Internals are done and paid for, the Reserves will require funding to the tune of anywhere between £154,000 and £169,000 (the £20,000 difference is what we would have in reserves once WADE's Internals costs are paid, and depending on which figures you wish to use above... ie with fees and contingencies or without... I strongly suggest WITH....
I leave you and your fellow majority to do the maths as regards raising £154,000 or £169,000 between 9 Lessees once Internals are finished in late October this year and one presumes, your suggested Externals schedule for September next year. My rough guess are three Quarterly Demands (Jan, Mar, June 2015) of either £5700 each lessee, or £6529 each lessee.... for three Quarterly Demands... considerable outlays over and above Management's
more reasonable £650 per quarter per lessee.