Freehold Purchase

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    #16
    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.

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      #17
      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.

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        #18
        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

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          #19
          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.

          http://www.residential-property.judi...area=Decisions

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