A great deal of residential property in prime Central London is leasehold. Leases have existed for over a hundred years on the large private estates. These include Grosvenor in Belgravia and Mayfair, Cadogan in Knightsbridge and Chelsea, Wellcome Trust in Knightsbridge and South Kensington and several other major estates throughout Central London.

Recent legislation namely the Leasehold Reform Housing and Urban Development Act 1993 (as amended) may allow lessees, in certain circumstances, to negotiate to purchase an extension of their long leasehold (originally more than 21 years) residential lease by an additional 90 years over and above the remaining balance of their lease, or to negotiate the purchase of their Freehold. Estimating the cost of "enfranchising" a lease is a highly technical matter.

The legislation does not apply to all circumstances and there are various statutory provisions distinguishing the different rules for houses, individual flats and blocks of flats.

These claims involve both legal and valuation issues. Your lawyer can advise you on your legal rights and deal with the necessary conveyance. The surveyor is the one who acts as a valuer in advising you as to the correct price. He then acts as a negotiator in seeking to agree the best price with the opposing party. In those rare occasions where the matter is referred to the Leasehold Valuation Tribunal, the surveyor must then act as an expert witness in presenting evidence at the hearing.

Egerton Roche recommend your leasehold enfranchisement be dealt with by a specifically experienced, qualified professional Surveyor who specialises in advising lessees on their eligibility under the legislation and on the likely price payable to acquire their freehold or extended lease.

Please call in confidence to discuss the specific circumstances of your case and we shall organise a “without obligation” initial consultation with our Chartered Surveyor who specialises in this field.