Valuation
Buying a new lease (an extended lease)
Under the current leasehold reform legislation flat owners with a long lease (originally granted for more than 21 years), subject to certain rules of qualification, would be entitled to:
- Claim either a new lease at a peppercorn rent (being for a term 90 years longer than the existing lease)
- Or jointly with their co-lessees buy the freehold of their building (collective enfranchisement)
This department has extensive experience within all valuation matters, having advised many landlords and tenants since both the 1967 Act and 1993 Act were enacted. We currently act for Cadogan Estates, the Portman Estate, the Ilchester (Holland Park) Estate and many private landlords. We also actively advise claimants on those estates where we are not instructed by the landlords.
Members of this department have appeared on many occasions at hearings of Leasehold Valuation Tribunals and The Upper Tribunal (Lands Chamber). The firm also subscribes to the LVT Users Group and the RICS Expert Witness Scheme.
James Wilson who heads the department has lectured at seminars on leasehold reform subjects, for the Residential Faculty of the Royal Institution of Chartered Surveyors; similarly for other organisations; and is co-author of 'Leasehold enfranchisement explained' - published by RICS books.
