Lease Extensions – The value of a leasehold property reduces as the lease runs shorter and leaseholders often need to extend them in order to safeguard the value of their asset. This typically occurs when a lease is already quite short or where it is approaching 80 years unexpired.
Collective Enfranchisement – This is the process of leaseholders banding together and serving a statutory notice onto the freeholder to compulsorily purchase the freehold interest in the building for a reasonable price.
Other: Right of First Refusal, Freehold Valuation – If freeholders of residential blocks choose to dispose of their reversionary freehold asset, they are usually required under legislation to offer leaseholders the right of first refusal. Other situations require freeholds to be valued for accounts purposes.
The premium represents the freeholders loss in value as a result of the lease extension or enfranchisement. This mainly consists of:
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Shaw and Company strive to offer high quality professional advice at a competitive cost and will aim to price match any like for like competitive quote where possible. Contact us for a free no obligation quotation.
Shaw and Company are a firm of Chartered Surveyors and RICS Registered Valuers, who have extensive experience in this niche field of property valuation and can provide the following: