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With the publication of the new Business Rates list
it is important to consider obtaining independent advice from a
Chartered surveyor on the merits of lodging an appeal for
re-assessment. At Lamberts we are fortunate to have our own in
house expert Ross Freese who has formerly worked for the Valuation
Office dealing with business rates. Contact Ross on 0207 520
2755 or email for
further information.
Wales office move....
Please note that the address and
associated details for our Wales / West of England office have
changed.
Henry
Johnson MRICS
Lamberts
Sophia House
28
Cathedral Road
Cardiff
CF11
9LJ
Tel:
02920 660138
Fax:
02920 660139
Mob:
07879 416 756
henry.johnson@lambertsurv.co.uk
To extend or not? That is
the question.......
Many of our clients have over the
past 18 months either withdrawn or deferred action on extending
their residential lease under the Leasehold Reform, Housing and
Urban Development Act 1993 (as amended). In part this has no
doubt been due to concerns about the downward trend in values, but
also due to the lack of cash (or required funding) that many are
suffering from.
When a flats lease is diminishing
below the 80 year level it's value is adversely affected and the
price to be paid for a statutory lease extension (90 years added to
the remaining term) increases.
Whilst it does make sense to have
withdrawn from applications that were made in 2007, or even early
2008, it is still important to consider proceeding if the length of
the lease term is impacting on value now. In a weaker market
such issues will be highlighted by any buyer and used to their
advantage when making an offer.
At Lamberts we believe that the
market is now at a level where values can be proven to have fallen
and that now is the right time to either make a new application or
commence the work required to consider doing so.
Lamberts fees for preparing a Lease
Extension valuation start at just £500 plus vat. Our report
will provide you with the full valuation calculation, together with
expert commentary on the process and the service of the Initial
Notice of Claim.
For a free "no obligation"
telephone consultation please contact Chris
Roberts on 0207 520 2306.
New instructions
Lamberts
act both as LPA receivers and as independent commercial agents
acting for insolvency practitioners, private individuals, property
companies and banks.
Click
here for our current instructions.
If
you would like to register on our applicants register and receive
regular email bulletins on current instructions please contact Ross
Freese MRICS or Karl
Bartholomew MSc or call 0207 520 2300
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