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First-tier Tribunal (Property Chamber)
You are here: BAILII >> Databases >> First-tier Tribunal (Property Chamber) >> Howard de Walden Estate Limited v Ms S A Mahdavi & K Mahdavi (Flat 1) Priory Investments Limited (Flat 2) (London : Lease extension) [2015] UKFTT RP_RC_LON_00BK_OLR_2014_1548 (23 March 2015)
URL: http://www.bailii.org/uk/cases/UKFTT/PC/2015/RP_RC_LON_00BK_OLR_2014_1548.html
Cite as: [2015] UKFTT RP_RC_LON_BK_OLR_2014_1548, [2015] UKFTT RP_RC_LON_00BK_OLR_2014_1548

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Howard de Walden Estate Limited v Ms S A Mahdavi & K Mahdavi (Flat 1) Priory Investments Limited (Flat 2) (London : Lease extension) (23 March 2015)



Category
1993 Act Decisions
Description
An application seeking the tribunal?s determination of the premium payable for the extension of leases for Flats 1 and 2 at the subject property. The
    [read more]
Address
Flats 1 & First Floor Premises Adjoining Flat 1 Basement Store 1 and Basement Garage Spaces 9 10 & 11 38-40 Devonshire Close Flat 2 & Basement
    [read more]
Applicant Name
Howard de Walden Estate Limited
Applicant Type
Landlord
Respondent Name
Ms S A Mahdavi & K Mahdavi (Flat 1) Priory Investments Limited (Flat 2)
Tribunal Reference
RC/LON/00BK/OLR/2014/1548
S20c
-
Fees
-
Costs
-
Hope Value
-
Intermediate Lease
-
Unexpired Term
The parties agreed a new lease term of 90 years from expiry of the existing leases.
Determination Inc Marriage
(i) The FHVP value of Flat 1 is ?4,427,700(ii) The FHVP value of Flat 2 is ?4,021,750(iii) The relativity at 20.81 years is 48.65%.
Capitalisation Rate
0.065
Deferment Rate
-
Relativity
The tribunal preferred the tenant?s average resulting in the figure of 48.65% or 20.81 years.The tribunal regarded the approach taken in Arrowdell [20
    [read more]

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URL: http://www.bailii.org/uk/cases/UKFTT/PC/2015/RP_RC_LON_00BK_OLR_2014_1548.html