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The Council is the freehold owner of a block of flats known as The
Mews. Flat 17 was originally sold in 2006 under the Council’s
equity share scheme. The lessee staircased to 100% leasehold
interest in 2015. The current lessee has exercised their statutory
right under the Leasehold Reform Housing and Urban Development Act
1993 to request the grant of longer lease as the term is currently
at a point where it would make it difficult for purchasers to
obtain a mortgage. 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 valuers. The lessee will be required to pay all
of the Council’s legal and surveyors costs