Delighted to have saved my clients over £290,000 from the premium the landlord required on accepting an assignment of a valid s42 notice claiming an extended lease.
Despite every effort to negotiate in a timely fashion, the landlords’ valuer would have none of it and so the only way forward was to take the claim to the First-tier Tribunal to settle.
On receiving its decision, I noticed an accidental slip the tribunal had made in treating the freehold comparables to reach an extended lease value as opposed to the freehold value. This in turn meant the decision had to be corrected to adjust the extended lease down 1% as opposed to up 1% which the respondent and tribunal accepted. This saved my clients a further approx. £9000.
Finally relativity ended up approx. 1.02 percentage points above the average of the Savills 2015 unenfranchiseable | Gerald Eve 2016 graphs of relativity (Zucconi).