Case Study - Lease Extension Valuations - Freehold
Jean Howe – Partner Kirkby & Diamond
Kirkby and Diamond carry out work within the field of Leasehold Reform on a day-to-day basis. We are extremely experienced in dealing with lease extension valuations on behalf of both landlords and tenants.
Case Study Lease Extension Valuations for the Freeholder
Kirkby and Diamond act for a large freeholder with approximately 3,000 flat units. Many of these flats were built in the 1980’s and Kirkby and Diamond deal with all the lease extension valuation and enfranchisement matters. On behalf of the landlord Kirkby and Diamond inspects each of the properties and prepare valuations for lease extension purposes.
The inspection is necessary to identify any issues that may affect the price to be paid to for a lease extension (such as factors that affect the future development of a site)
Kirkby and Diamond also apply strategies tailored towards each individual client. This can involve valuations on the basis of alternative private lease extension agreements where the landlord can retain ground rent income in to the future thus protecting the property’s investment value. This is done in addition to the standard lease extension valuations in accordance with the Leasehold Reform Housing and Urban Development Act 1993 (as amended).
The result of the detailed research and valuation knowledge applied to all lease extension valuations means that Kirkby and Diamond’s client can maximise income from lease extension premiums as well as retaining a ground rent income into the future. Kirkby and Diamond carry out all negotiations to settle such matters quickly and efficiently to allow the freeholder client to get on with their normal day-to-day business.