Client: Three Rivers District Council
Three Rivers District Council is the freeholder of two terraced shops with flats above, built in the 1930’s. With just over nine years remaining on its lease, the head lessee served a 1967 Act notice on the Council to acquire the freehold.
1967 Act claims for such properties have only come about recently, resulting from a Lands Tribunal determination that a shop with a flat above can be regarded as a house for the purposes of the Act. The Council asked our residential leasehold reform team to value its interests.
The solution
We valued the retail and residential parts of the property separately, using appropriate methodologies. Comparable evidence was sourced from local estate agents, commercial agents, the Land Registry, various property databases and our own retail team.
The results
Our report provided the Council with information as to the appropriate enfranchisement price they could expect to receive from the claimant, providing the basis upon which to base its negotiations.
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