Attended Site Valuation for Collective Enfranchisement
A thorough valuation and report based on our findings from a site inspection. This service is best for higher value properties, those in Prime Central London, or on short leases.
Why choose the attended site visit?
- The service is simple to use. All we require is a copy of the lease and to arrange a convenient time for the inspection of the participating flats to take place. Once the visit has taken place our report will follow 10 – 14 days afterwards.
- We will establish the size of the flats and their market value in their unimproved state (as improvements are to be disregarded according to the legislation).
- Our report will include a thorough description of our findings including the Gross Internal Area of each flat and property features which can be taken into account, plus three calculations for each flat: our opinion of the ultimate settlement premium, what we recommend you put forth as an opening offer in informal negotiations or should a Notice of Claim be served, and the figure we reasonably expect the Landlord to ask as a Counter-Offer (or Tenant to offer, if we are acting for a Landlord).
- We provide a flat-by-flat breakdown, including what is payable by participants and non-participants in the enfranchisement. Sometimes an emergent enfranchisement doesn’t proceed, so we also include a lease extension valuation for each flat. In this way our report is adaptable and relevant to every circumstance.
- The advantage of this type of report is that it gives you a best-case worse-case scenario breakdown as we set out the spectrum of the figures. It also puts us in a ready position to negotiate the premium if a Notice of Claim is served or should you enter into informal negotiations.
- Carrying out an attended site valuation does not mean we will come to a different conclusion than if we had done a desktop valuation. It is only a question of whether or not it is of value to you to have us inspect.
We recommend attended site valuations when acting for Landlords responding to a Notice of Claim, for higher value properties, and often for flats that are on short leases as the premium is much more sensitive to the property value than on long leases.
For properties in Central London (sometimes known as Prime Central London) the negotiation stage for large estates require that the flat has been inspected. If, after discussions with you, you think it is not required, we will give you the benefit of our experience – and a desktop valuation may be a better alternative.
Many properties in Central London are subject to a head lease and this will require further investigation which we will discuss with you on a case-by-case basis.
We understand that the ‘legalese’ and industry-specific terminology can be confusing. If this section of our site leaves you perplexed, please contact us today by phone or email – or the instant chat widget at the bottom of this page! – and one of our customer service advisors will be happy to answer any questions you may have.
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After two previously aborted attempts we have just completed the extension of the lease on our property in Wimpole Street.
Fortunately this time we asked myleasehold to manage the entire process for us, which proved to be a wise move due to the excellent service and comprehensive level of support.
I cannot recommend myleasehold highly enough.