- Collective Enfranchisement, Expert Witness
Winsley Court/Winsley House, 37 & 39 Portland Place, London W1B 1QQ and 6 & 7 Weymouth Mews, London W1G 7DZ
- Winsley Limited v Howard de Walden Estates Limited (2006)
The property is located in Portland Place, the ’jewel of the Howard de Waldon estate’ and home to several fine embassy buildings. However, this property was built in the 1950s as bomb damage replacement. As such the buildings were relatively basic and the flats plain, unlike the more prestigious buildings elsewhere in the road.
The Leasehold Valuation Tribunal (LVT) considered a raft of comparables but were persuaded to restrict themselves to the evidence from within the building itself, which favoured the leaseholders. The site inspection by the Tribunal was a nightmare with both valuers and the three Tribunal members getting stuck in the lift for a very long time on a very hot July day!
A settlement was negotiated prior to appeal to the Lands Tribunal.
- Collective enfranchisement
- Acted on behalf of leaseholders to buy the freehold
- Expert Witness before LVT
- Negotiated settlement prior to Lands Tribunal
- Freehold and existing lease values
- Deferment rate
- Value of Intermediate interest
- Hope value for non-participants
- Michael Lee valuation £2,610,805; landlord valuation £4,517,760
- LVT determined £3,322,207
- Private agreement reached