Our valuation service is tailored to meet each client's specific requirements and our aim is to act promptly and discreetly. The objective of the independent valuer is to provide straightforward, unbiased advice upon which private investors, banks, building societies, accountants, solicitors, trustees and the courts can make sound and well informed decisions, whether it be for a loan, security, taxation reasons, probate, family trusts' purposes, matrimonial disputes, arbitration or acquisition.
Our reports are prepared by fully qualified and experienced valuers, in accordance with the guidelines set out by the Royal Institution of Chartered Surveyors.
We are pleased to discuss the contents of reports before submitting them, if our clients wish, and to provide additional information which, whilst it may not have a bearing on the value of the property, may prove useful in the decision making process.
We are used to being involved with unusual properties and have a particular knowledge of period properties and Listed Buildings as well as contemporary architecture.
Leasehold Enfranchisement
We are pleased to represent landlords and tenants in leasehold enfranchisement negotiations. In 1993 and 2002 the government extended the legislation which allows any tenant of any residential unit to either purchase the freehold or extend their lease by 90 years provided the original lease was granted for a term of longer than 21 years and, in the case of a lease extension, the leaseholder has owned the property for more than two years. The purchase of a freehold can either be by the leaseholder of the house or collectively by the tenants of a block of flats, providing that more than 50% of them participate and providing that any commercial space in the building does not comprise more than 25% of the floor area of the whole. If purchase of the freehold is not an option, tenants are entitled to extend their existing lease by 90 years and to remove any ground rent.
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The valuation formulae for the enfranchisement of the freehold and lease extensions are virtually the same except that it is recognised that even a very long lease is still not worth as much as a freehold. The price to be paid by the leaseholder comprises the capital value of the existing ground rent, the value of the landlord's reversion, a proportion of the marriage value and the landlordÕs legal and valuation costs.
As the legislation has continued to evolve through case law, the calculations have become more complicated and the effect on the leasehold interest more critical. We regularly advise individuals, investors looking at short leasehold opportunities and groups of tenants wanting guidance through the complex legislation.
Professional Services
Jackson-Stops & Staff are able to provide advice on a wide range of property matters from strategic planning on mixed user property to representing clients in negotiations with District Valuers, the Inland Revenue and other statutory bodies. We undertake and submit Planning and Listed Buildings applications and negotiate if necessary with the local authorities. We have had considerable experience in undertaking feasibility studies for residential development schemes on behalf of private developers. We have also been providing specialist advice to owners of Listed Buildings for over 30 years.
We act for Charities and Charitable Trusts, advising on their property requirements and existing portfolios, including valuations, building projects and development opportunities, in order to maximise the asset value and income. We are familiar with the Charities Act and work within its parameters.
Contact:
Dawn Carritt, Director
Jackson-Stops & Staff,
17c Curzon Street
London, W1J 5HU
Tel: 020 7664 6646
Fax 020 7664 6645
Email: london@jackson-stops.co.uk |
