tribunal decision on lease extension premiums

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    #1

    tribunal decision on lease extension premiums

    Dear all
    Probably a stupid question, but here we go:
    If I suggest a reasonable premium in my offer to extent my lease, the freeholder suggest their price, we go to the tribunal and they judge it is close to the freeholder's price. Do I then have to extend my lease, or can I withdraw (covering the freeholder's costs of course). I think probably the former but perhaps not?

    Regards
    Aurora
    Tags: None
    #2
    You can withdraw at anytime but have to pay certain aspects of the landlords costs - but not all and not the landlords costs of attending the Tribunal.

    Comment

      #3
      Yes you can withdraw but you'd need to be a total muppet. Just get proper valuation carried out.
      It would though make sense for legislation to be reciprocal so freeholders could indeed force lessees to extend. Could help with CGT planning.

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