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The Council is the freehold owner of a 18
Sturt Court Merrow Guildford Surrey GU4 7HF which is let on an
equity share basis. Equity share lessee’s do not have a
statutory right to extend the term of the lease, but the Council
has a voluntary scheme in place to enable this to happen. The
current lessee has applied to the Council to extend the term of the
lease of the property as the term is currently at a point where it
would make it difficult for purchasers to obtain a mortgage. The
new lease will be granted 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, including the rent payable for the share owned by
the Council.

The consideration for a new lease is determined by valuers on the
same basis as a lease extension under the relevant statutory
legislation.. The lessee will be required to pay all of the
Council’s legal and surveyors costs.