Content

The Council is the freehold owner of a block
of flats known as The Mews. Flat 3 was originally sold in 2003
under the Council’s equity share scheme. The lessee
staircased to 100% leasehold interest in 2019. 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