Currell has an impressive track record of successes acting on behalf of lessees for lease extension and enfranchisement throughout London and the UK. Our experienced team always act in the best interest of our clients, providing sound advice and undertaking negotiations with other parties when required.
Where flats have been sold on long leases, the lessees may have certain rights:
-
The right to extend their lease by a term of 90 years from when the original term ends and to pay a peppercorn rent instead of the ground rent specified in the lease. Your solicitor will advise whether the lessees are eligible and will draft the notice or counter-notice as appropriate. We would be able to provide valuation advice as to what is the appropriate premium payable for the lease extension. We follow the formula set out in the Leasehold Reform Housing & Urban Development Act 1993, as amended.
If required, Currell will undertake the negotiations on your behalf.
If terms cannot be agreed, the price can be determined by the Leasehold Valuation Tribunal.
- Together with other lessees in the building, the freehold can be collectively enfranchised. There are certain restrictions, for instance there would be no right to enfranchise where the building has more than 25% commercial space and two thirds of the flats in the building must be let to qualifying tenants. There are other restrictions and we would need to work closely with your solicitor to establish, whether or not the lessees qualify.
We will be able to advise on the appropriate price payable for the freehold and conduct negotiations on your behalf.
Contacts:
