Case Study - Collective Enfranchisement Aylesbury
Jean Howe – Partner Kirkby & Diamond
Property: Poets Chase, Aylesbury, Bucks, HP21 7LW
Client: Poets Chase Management Company (Freehold) Ltd
Start Date: 2003
Completion: March 2008
Description: Collective Enfranchisement
The project involved advising the management company that had been set up to buy the freehold interest in the above property in Aylesbury, which consisted of 127 flats in 9 blocks.
After the initial valuation, Kirkby and Diamond was appointed to negotiate on behalf of the Management Company with the surveyor for the landlord. This resulted in agreement of various aspects, but disagreement in respect of one major aspect (the Sportelli deferment rate).
As part of the process, Jean Howe addressed all the residents at two meetings to explain the issues and was then instructed to prepare a case for Leasehold Valuation Tribunal which involved attending a hearing, being cross examined by barristers and presenting valuation evidence.
Ultimately the freehold was purchased allowing the management company to retain control of the estate.
For further details please email Jean Howe or telephone 01582 73886.