Leasehold valuation help please

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Leasehold valuation help please

    Hi everyone,

    Could someone help me please. I am a student studying valuation and struggling with this question:

    Fifth floor; 2 x 2 bed flats.

    First floor; 2 x 3 bed flats.

    Ground floor; 2 x 1 bed flats, 2 x 2 bed flats.

    All of the 2 and 3 bedroom flats are let to rent controlled tenants who have the current fair rents agreed by the rent officer 4 years ago of;
    3 bedrooms £150 per week inclusive,
    2 bedrooms £100 per week inclusive.

    Similar flats let under AST’s are being agreed at £900 and £800 per week respectively.

    All of the 2 bed flats on the ground floor were sold of on 99 year (with static ground rents of £250 pa) leases 15 years ago.

    All of the 1 bedroom flats are let on Assured Tenancies at a current rent of
    £2000 per calendar month inclusive.

    Mrs Cymbal the tenant of Flat 17 (3 bed) and Bert Smedley the tenant of Flat 15 (2 bed) are not happy as the landlords have applied to the Rent Assessment Committee (RAC) to have the fair rent increased by an average of 20 % as they (H.I.) have recently spent
    £ 500,000 on exterior repairs and the installation of a new carpet to the common parts.

    The prevailing market values for well-modernised flats in well-modernised blocks (and on 99 year leases) are as follows;
    3 bedroom £1,150,000
    2 bedroom £875,000
    1 bedroom £575,000

    How would I value:
    Enfranchisement valuation for the 2 bed flat ground floor?
    The valuation of the freehold interest?

    Thank you for any help that is given

  • #2
    Download the free guide from www.lease-advice.org

    Comment

    Latest Activity

    Collapse

    • Communal front garden issue
      Pocahontas
      Hello

      I hope I'm posting in the right part of this forum. I need some some advice please.

      I own the leasehold on my ground floor flat and the freeholder owns the flat upstairs and rents out to tenants.

      New tenants moved in two weeks ago and since they have moved...
      19-07-2017, 20:45 PM
    • Reply to Communal front garden issue
      Pocahontas
      Exactly! Plus I don't want other people thinking they can dump stuff other in the garden.

      She definitely has abandoned it as I asked her and she said she doesn't want it but was just intending on leaving it there!...
      20-07-2017, 11:24 AM
    • Reply to Communal front garden issue
      Pocahontas
      Thanks for the responses, they are really helpful.

      After speaking to the tenant yesterday, I put a note through her door so that I made it formal, my request that the furniture is removed.

      I explained that it's a hazard and I am unable to maintain the gardens upkeep with...
      20-07-2017, 11:10 AM
    • Reply to Communal front garden issue
      Pocahontas
      Thanks, noted!...
      20-07-2017, 11:04 AM
    • Reply to Communal front garden issue
      leaseholder64
      It's not clear that there is a sub-tenancy here. The short let tenant could be a top level tenant of the freeholder, and so only bound by any freehold covenants, and the easements in the OPs lease.. That's one of the questions I asked. (I initially assumed there were two long leases, but my second reply...
      20-07-2017, 10:51 AM
    • How to apply for a court order?
      smart430
      Could anyone please tell me the process for applying for a court order to access a property?

      I am a freeholder and occupant of an upper floor flat in a converted semi with a leaseholder on a long lease who is letting the structure fall to bits and has left the property vacant downstairs....
      19-07-2017, 20:22 PM
    • Reply to How to apply for a court order?
      smart430
      Local county court enquiries say they cannot tell me which form to use and that I need to ask a solicitor!
      20-07-2017, 10:07 AM
    • Reply to How to apply for a court order?
      smart430
      Many thanks. Will look into it.
      20-07-2017, 09:33 AM
    • Reply to Communal front garden issue
      tatemono
      somewhere at the bottom right of each post you make, there's an edit button. So, if you notice a grammatical error, you can click that and edit it out of your post instead of having to post another reply.

      You can also preview before you post, (see button next to Post Reply) but you probably...
      20-07-2017, 09:07 AM
    • Reply to Communal front garden issue
      ram
      A sub-tenant contract ( renters ) does not over ride the lease

      You have the right to access common areas, and have unrestricted access to them, and your access is being prohibited.
      Tell the sub-tenants you will move it your self ( with help ) if they do'n't within 24 hours, as it's
      ...
      20-07-2017, 07:39 AM
    Working...
    X