Lease Extensions and Freehold Enfranchisement Reform
In its decision in Sinclair Gardens Investments (Kensington) Ltd v Wisbey  UKUT 203 the Upper Tribunal (Lands Chamber) has recently considered the scope of a landlord’s ability to recover its costs for dealing with granting a new lease under the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) for a lease extension.
The Judgment will be of interest for Tenants considering procuring a statutory lease extension in terms of more concrete guidance on what costs a landlord may properly recover from the tenant under section 60 of the 1993 Act. In particular, the Tribunal indicated that the allowable costs could reflect a presumed discount on fees that a landlord might negotiate where it would be likely to deal with a number of similar claims for a new lease.
Should you require any advice on statutory lease extensions, voluntary lease extensions, freehold enfranchisement or missing landlords – please contact Elizabeth Cobb on 020 8891 6141 who would be more than happy to discuss your options.
Acting before your lease drops below 80 years is likely to mean a substantial saving is made.