I head up our Residential Leasehold Enfranchisement team here at Newmark. I specialise in advising on statutory and capital valuations of Central London residential properties, focusing on lease extensions (flats), collective enfranchisements (blocks of flats), enfranchisements (houses), and asset valuations.
My current work focuses on providing valuation advice to private clients and major Central London estates relating to lease extensions and enfranchisement claims. I carry this out under the Leasehold Reform Act 1967 (as amended), the Leasehold Reform, Housing and Urban Development Act 1993 (as amended) and the Commonhold and Leasehold Reform Act 2002, including negotiations and the preparation of proofs of evidence for Tribunal hearings.
I have worked in the residential sector in Central London since 1999. My experience covers residential valuations for leasehold reform, portfolios, loan security, taxation, matrimonial, inheritance, insurance and litigation purposes. Primary clients include the Grosvenor, Cadogan and Portman Estates.
Recent Projects
- Mixed-use building, Mayfair – I completed a rent review of a mixed-use building in Mayfair which included 15 flats above commercial units. Our instructions included inspecting, measuring the GIA totalling some 60,000 sq ft, reporting and negotiating the rent. On review, I achieved an increase in the rent payable for the landlord of over 400%.
- Flats, Chelsea – I worked on the collective enfranchisement of a block of flats in Chelsea comprising 16 flats, with a capital value of approximately £60m. Having inspected, measured and reported to our client, we negotiated the premium payable for the freehold, whilst also advising on the impact the permitted use and the terms of the freehold transfer would have on the premium payable. In addition to the premium achieved, it was possible to secure leasebacks on units the client wished to retain.
- House, Belgravia – I acted on the enfranchisement of a house in Belgravia which included inspecting, measuring the property, valuing and negotiating the premium payable for the freehold. The tenant had let the lease length fall to nearly two years unexpired. Although the Tribunal was on standby to determine the premium, it was possible to reach an amicable settlement between the parties.
