House Enfranchisement, Expert Witness
House Enfranchisement, Expert Witness
House Enfranchisement, Expert Witness
Collective Enfranchisement, Expert Witness
Collective Enfranchisement, Expert Witness
Collective Enfranchisement, Expert Witness
Collective Enfranchisement, Expert Witness
Collective Enfranchisement, Expert Witness
Collective Enfranchisement, Lease Extensions
Collective Enfranchisement, Lease Extensions
Collective Enfranchisement, Lease Extensions
Collective Enfranchisement, Lease Extensions
Collective Enfranchisement, Lease Extensions
Palace Mansions Freehold Ltd v Mrs Sonya Hilton (2006)

In respect of this prestigious block opposite Olympia Exhibition Centre, Michael acted for the landlord, who was concerned about losing marriage value for non-participants and the loss of roof space development value. The block comprised 62 flats and no sub 80-year lease flats were participating.

Hope value was awarded but the main issue was the roof. The leaseholders’ valuer said no value. Michael put forward a residual valuation and adjusted for hope/risk with a fallback value being the potential sale to the top floor leaseholders. The tribunal awarded £225,000 for the roof value.

  • Collective enfranchisement
  • Acted for freeholder who wanted to secure roof space value
  • Expert Witness before Leasehold Valuation Tribunal (LVT)
  • Hope value and roof space value

Issues

  • Capitalisation rate
  • Deferment rate
  • Hope value for non-participants’ future marriage value
  • Roof space development potential

Result

  • Michael Lee valuation £923,880 or £612,880; leaseholder valuation £206,000
  • LVT determined £477,550

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