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Lease Extension

Walthamstow Area


Client

Private Individual Investment Leaseholder

Property

34 Self-contained flats

Project Summary

Strettons were first instructed to deal with approximately half of these properties in 2014. The flats were not inspected internally but a schedule of accommodation details was provided to Strettons and external inspections were carried out. 

A single portfolio report was provided to the client advising on the likely premiums payable in each case.  After initial Notices were served by the client’s solicitor and the freeholder’s counter-notices received, Strettons were instructed to negotiate.  Negotiations were on the whole against one freeholder’s valuer, although one or two properties were with other parties.  

Successful negotiations were carried out and premiums acceptable to the client were agreed. Following on from this in 2015 the same process was undertaken with the remainder of the properties.

Now all cases have been agreed and completed and the client is in possession of an investment portfolio with 34 flats with long leases and no ground rent to pay. This process not only added value to his portfolio, but also removed future issues and difficulties.

Geneviève Mariner

020 8509 4432
genevieve.mariner@strettons.co.uk