All news articles in date order - newest first.
The long awaited ruling at the Court of Appeal on the Trustees of the Sloane Stanley Estate v Mundy was announced this morning. The appeal was lost and James Wyatt has been refused leave to appeal.
Click here for a link to the full judgement.
Various models have been created by the major estate owners and valuation firms over the years, to calculate the price a leaseholder must pay to extend their lease. Their models have been challenged by James Wyatt, former head of valuation at John D Wood, who has formulated an alternative model known as the Parthenia model. The model was tested in Court in 2016, but was rejected then, as now.
The most pithy summary of the original case was provided by Philip Rainey QC of Tanfield Chambers on 12th May 2016, when he wrote:
The Tribunal goes “bong”!!!
Morgan J and Mr Trott FRICS have handed down their eagerly awaited decision as to how relativity should be assessed in leasehold enfranchisement matters. It is something of a “doorstop” weighing in at 80 pages; so here are some brief highlights:
Estimates vary but some claim there are over two million leases with less than 80 years to run. This ruling will inform the price a huge number of leaseholders will pay their freeholders to have their lease extended.