Content

The Council is the freehold owner of a block
of flats in Foxburrows Avenue Guildford Surrey GU2 8HT. Flat 39 was
originally sold 24 August 1987 under the provisions of the Right to
Buy for a term of 125 years from 24 August 1987 at a ground rent of
£10. The current lessee wishes to extend the term of the
lease to make it more saleable on the open market. The lessee has
exercised their statutory rights under Leasehold Reform Housing and
Urban Development Act 1993 to require the grant of longer lease.
Under the legislation, the Council as the competent landlord, is
required to grant a new lease to the owner of the flat for an
additional term of 90 years on top of the unexpired term of the
lease, and on the same terms as the existing lease, save that the
annual ground rent will be a peppercorn if demanded. The
consideration for a new lease is governed by the legislation and
determined by specialist valuers. The lessee will be required to
pay all of the Council’s legal and surveyors costs.

Reasons for the decision

To enable the lessee to sell on the open
market.

Alternative options considered

None