Freehold Purchase

  • Filter
  • Time
  • Show
Clear All
new posts

    Many thanks for all the replies. Regarding the above, can anybody recommend a valuer. Any suggestion here or via the message facility would be most welcome.


      I have just been sent a recent FTT case "All Saints" which set the Cap rate 3.35%. Def rate 5.00%
      Case ref CHI/21UC/OCE/2017/0025 St Emmanuel House, 6 Darley Road, Eastbourne BN20 7GD. 7 Feb 2018. (28 pages)
      I can't find a link to the case and this site restricts the pdf size to less than a page.


        The All Saints case gives a capitalisation rate of 3.35% for a ground rent linked to the RPi where the review is every 15 years. It was on a large development in Bournemouth. A leading barrister in leasehold matter a Philip Rainey QC acted for the freeholder and the lessees valuer was heavily critised in the judgement for letting down his clients (para 81) Large blocks with ground rents linked to the RPI are actively sought by large financial institutions and this was a factor in settling at this rate . The lessees valuer our forward the argument that valuation of ground rents was still a very crude valuation exercise and this appeared to annoy the Tribunal hence their unsusal damning remarks


          I have now found a link to the case (see below). I have read the decisions and agree with your helpful comments. The case did highlight the need for a competent property valuer - I still haven't had any recommendations - any suggestions welcome.



          Latest Activity


          • Need Help Negotiating Lease Extension Premium
            Apologies for this long post.

            I need your help negotiating my lease extension please.
            My surveyor says there's no point negotiating it as the landlord's proposed figure on counter notice £18,000 (reduced to £16,000 after I rang and negotiated the counter notice) (Now £15,400 after...
            26-04-2019, 01:08 AM
          • Reply to Need Help Negotiating Lease Extension Premium
            If you are only £1,700 apart, I would definitely not incur any more costs, I suggest that you offer to split the difference and avoid the cost of a hearing , which will easily exceed the sum in dispute....
            26-04-2019, 07:12 AM
          • Reply to Need Help Negotiating Lease Extension Premium
            It's a shame but he refuses to negotiate with the FH or surveyor.
            I told him I didn't even say much before the counter offer was reduced.

            His most recent response is below.

            "The problem we have always had is that the extended lease value of £285,000 (freehold value...
            26-04-2019, 07:11 AM
          • Reply to Need Help Negotiating Lease Extension Premium
            I didn’t see landlord’s fees in all that?
            26-04-2019, 07:09 AM
          • Reply to Need Help Negotiating Lease Extension Premium
            I wouldn't run up any more expense with him IIWY. He obviously can't be *rsed to do anything harder than plug figures into his computer.
            26-04-2019, 06:46 AM
          • Advice please
            I live in a block of (11) privately owned flats.
            I am a resident and a director of the flats maintenance company.
            About 5 years ago, the company engaged the services of a local estate agency to purely run the maintenance side.
            So They just collect the monthly fees and look after...
            18-04-2019, 18:39 PM
          • Reply to Advice please
            The agent has no defence to a claim to supply a director with information, so you should instruct the solicitor to take legal action if the agent ignores him, but I do not think that it will come to that.

            I do not understand your point about the contractor. You are at the property 24x7...
            26-04-2019, 06:10 AM
          • Agents won't return RMC Company books
            Our RMC removed our managing agents as Company Secretary on 1st April and in the notification letter we requested the return of the Company register/minute book etc by a signed-for service.

            Over three weeks later… no sign of the documents. The agent says they'll attend to it and then...
            25-04-2019, 09:21 AM
          • Reply to Agents won't return RMC Company books
            I assume that the former agent has been paid in full and it is not exercising a lien over the books.

            In that case, it seems to be saying that it is not giving priority to you and I would reply by saying that you will turn up at the agent’s premises to collect the books and call the police...
            26-04-2019, 05:49 AM
          • long lease extension - self representation
            I have pursued the statutory route for extending the lease of a flat and the negotiations have been delayed by the landlord. As the next stage will be going to court I am interested to know if anyone has represented themselves to avoid the high legal fees? Would I need to argue the details of how my...
            10-04-2019, 12:47 PM