Maryland Estates Ltd v Abbathure Flat Management Co Ltd
Maryland Estates Ltd v Abbathure Flat Management Co Ltd
- 1999
- Estates Gazette [1999] 06 "EG" 177-184(8) .
LT 25 August 1998. Appeal by landlord M and cross-appeal by nominee purchaser A, over assessment of marriage value under Leasehold Reform, Housing and Urban Development Act 1993, para 4 of Schedule 6. The Leasehold Valuation Tribunal determined freehold price at £21,000, M sought £31,750 and A sought £9,600. Certain factors could be taken into account in valuing the freehold interest for the purposes of determining marriage value. These included the benefits to tenants, such as lower management charges and repair costs and the elimination of groundrent. It was necessary to determine the increase of value if any, of the freehold interest when it passes to the tenants` control. "Held" that an uplift of 5% above the value of existing leases and a sum of £4,480 for elimination of the ground rent was appropriate.
ABBATHURE FLAT MANAGEMENT CO LTD
BLOCK OF FLATS
DETERMINATION OF PRICE
FREEHOLD INTEREST
GROUND RENT
HOUSING AND URBAN DEVELOPMENT ACT 1993
LEASEHOLD ENFRANCHISEMENT
MARRIAGE VALUE
MARYLAND ESTATES LTD
LT 25 August 1998. Appeal by landlord M and cross-appeal by nominee purchaser A, over assessment of marriage value under Leasehold Reform, Housing and Urban Development Act 1993, para 4 of Schedule 6. The Leasehold Valuation Tribunal determined freehold price at £21,000, M sought £31,750 and A sought £9,600. Certain factors could be taken into account in valuing the freehold interest for the purposes of determining marriage value. These included the benefits to tenants, such as lower management charges and repair costs and the elimination of groundrent. It was necessary to determine the increase of value if any, of the freehold interest when it passes to the tenants` control. "Held" that an uplift of 5% above the value of existing leases and a sum of £4,480 for elimination of the ground rent was appropriate.
ABBATHURE FLAT MANAGEMENT CO LTD
BLOCK OF FLATS
DETERMINATION OF PRICE
FREEHOLD INTEREST
GROUND RENT
HOUSING AND URBAN DEVELOPMENT ACT 1993
LEASEHOLD ENFRANCHISEMENT
MARRIAGE VALUE
MARYLAND ESTATES LTD