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The Council is the freehold owner of a block
of flats in Manor Road Guildford. Flat 92A was originally sold 14
March 1994 under the provisions of the Right to Buy for a term of
125 years from 14 March 1994 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