Blakes were instructed by the leaseholder of a 3 bedroom flat in Kingston upon Thames to provide a valuation for lease extension purposes. The valuation was carried out on behalf of the lessee and informal negotiations were entered into with the freeholders surveyors on the basis of the statutory terms. An amicable settlement was agreed within 4 weeks over the premium to be paid and the legal matters were completed shortly afterwards. The lease was extended by 90 years and the ground rent was reduced to NIL for the entire lease term.
We act for both landlords and tenants advising on the various valuation aspects of leasehold enfranchisement. More specifically, landlord and tenant rights pursuant to The Landlord and Tenant Act 1987 (tenant’s pre-emption rights; landlord’s sale of the freehold to the tenant flat owners pursuant to service of formal notices); The Leasehold Reform, Housing and Urban Development Act 1993 as amended by the Commonhold and Leasehold Reform Act 2002 (individual lease extensions of flats, collective enfranchisement of the freehold of a building and right to manage claims) and all ancillary matters arising from this area of law.
For assistance with extending the lease on your property or purchasing the freehold, please call us on 02082961234 for a free consultation. We will value and negotiate the premium payable to the freeholder and can also provide details of solicitors with whom we have worked with over the years specialising in this area of law.
Client Testimonial
“Recently I needed to extend the lease on an investment property of mine in Surbiton, Roshan at Blakes managed the whole process for me, not only did this take the work out of it for me, once he completed the valuation he then successfully negotiated with the freeholder directly himself what I am confident would have been a much better price for the lease extension than I could have got to myself, they provide a very professional service and have since recommended Roshan & Blakes to our own clients and will continue to in the future.”
Chris Poore BEng CeMAP
Independent Mortgage Adviser, Kingston Mortgage Services
