Chartered Surveyors & RICS Registered Valuers, London
Lease extensions, collective enfranchisement, freehold purchase and disposal, probate and tax valuations, building surveys, compulsory purchase and expert witness work — valued, negotiated, and through our associate law firm seen through to completion.
We act for leaseholders and freeholders, and for the solicitors, executors, trustees and lenders who instruct us. Contact us for a no obligation fee quotation.
Blakes acts for private clients, leaseholders and freeholders, solicitors, managing agents, executors and corporate property owners. The work spans RICS Red Book valuations for probate, inheritance tax, capital gains and matrimonial purposes, Level 2 and Level 3 building surveys, lease extension and collective enfranchisement valuations, and compulsory purchase claims.
We are RICS Registered Valuers. Our reports are delivered to agreed deadlines, including urgent instructions where required, and prepared to withstand scrutiny by HMRC or by a surveyor acting on the other side. We are renowned for our pragmatic, commercially focused negotiation expertise, whether the matter is a lease renewal, a freehold purchase, an acquisition or a compulsory purchase claim.
Where a matter cannot be settled, we have given expert evidence before the First-tier Tribunal, the County Court and the High Court. Most of our instructions never get that far — but knowing how a figure would be tested is what allows us to tell you, early and candidly, which arguments carry weight and which do not.
We are members of the Association of Leasehold Enfranchisement Practitioners (ALEP)
Blakes Chartered Surveyors are members of and regulated as a practice by the Royal Institution of Chartered Surveyors (RICS).
Formal valuation and negotiation across leasehold reform, probate and dispute work — for private clients and the professionals who instruct them.
We calculate the premium, advise on timing, and negotiate with the landlord’s surveyor to settle without a tribunal.
From two-flat conversions to large mixed-use blocks: qualification, the premium, and apportionment between participants.
Red Book reports for probate, inheritance tax and capital gains tax, prepared for executors, solicitors and accountants.
CPR-compliant reports and oral evidence from surveyors who have appeared before the tribunal and the higher courts.
RICS Home Surveys and building surveys for buyers and owners who want to know exactly what they are taking on.
Compensation claims where property is acquired by an authority — valuation, disturbance and negotiation for claimants.
In association with our associate law firm, Arcadia Law, we offer a streamlined service for leaseholders and freeholders seeking to extend a lease on a residential flat or sale and purchase of a freehold.
Find out more about what we do and who we are.
Find out more about the range of services we offer.
See how we have helped past and current clients.
For a single flat, extension.lease is usually the simplest and most cost-effective route — valuation, negotiation and legal work as one managed fixed fee service.
myfreehold.com is our service for freeholders, portfolio landlords, resident freehold companies and managing agents — valuation by Blakes and legal work by Arcadia Law on a single instruction. Section 42 and section 13 counter-notices, right of first refusal, disposals, informal extensions and licences.
Our fee depends on the property, the unexpired lease term and whether the matter is likely to require negotiation or tribunal evidence. We agree a fixed fee before any work begins. Packaged fixed fees covering valuation, negotiation and the legal work are available through extension.lease.
Earlier is almost always cheaper. The premium rises as the unexpired term falls, and it rises sharply once the term drops below 80 years. Lenders also become cautious well before that point: in our experience caution starts where the unexpired term is under 90 years, where the ground rent exceeds 0.1% of the flat’s market value, or where rent reviews occur at intervals of less than 20 years. Thresholds vary between lenders.
Marriage value is the increase in the value of the flat created by granting the new lease. Under the law as it currently stands it becomes payable once the unexpired term falls below 80 years, and is shared equally between the leaseholder and the landlord. This is the single biggest reason to act before the 80-year point. Leasehold reform legislation may change how marriage value is treated, so it is worth taking current advice.
For inheritance tax purposes the figure returned must reflect open market value under section 160 of the Inheritance Tax Act 1984. An agent’s appraisal is a marketing opinion rather than a formal valuation, and it can be challenged. A Red Book valuation prepared by an RICS Registered Valuer sets out the evidence and methodology behind the figure, which is what HMRC expects to see.
A straightforward claim usually completes within six to twelve months. The landlord has two months to serve a counter-notice, after which the premium is negotiated. If terms cannot be agreed, an application to the First-tier Tribunal can be made between two and six months from the counter-notice. Most claims settle by negotiation without reaching a hearing.
Send us the address, the unexpired lease term and the ground rent, and we’ll come back with a fixed fee quote and our view on the figure. If it isn’t the right time to act, we’ll tell you that too.
