Residential - Leasehold enfranchisement
Through our residential management and valuation work, the firm has been involved with leasehold enfranchisement since the beginning of the statutory legislation. We have the largest team in the UK of specialists in this field advising clients on enfranchisement, lease extensions and collective enfranchisement.
The Leasehold Reform Act 1967 gave long lessees of houses the right to extend their lease or purchase the freehold of their property. The Leasehold Reform Housing and Urban Development Act 1993 enabled long lessees of flats either to extend their lease or collectively enfranchise (buy the freehold of their block along with their fellow lessees).
The legislation is complex, and the valuation issues no less so. The process, for both landlord and lessee, can be time consuming, difficult and drawn out. We are pleased to offer a service which takes the client through the process, from start to finish, to arrive at the right price or premium.
Our experience enables us to give valuation advice on both straight forward and complex cases. Our professionals frequently appear before the Leasehold Valuation Tribunal and the Lands Tribunal giving expert evidence on behalf of our clients. Partners of the firm have given evidence in recent landmark cases such as Arbib, Sportelli and Nailrile.
We deal with a large number of solicitors and barristers on the valuation aspects of each claim and working with them on points of law. We are also frequently involved with the detailed measurement of mixed use buildings to see if they are eligible to enfranchise.