We can also provide you with more specialised services:
VALUATIONS FOR LEASEHOLD EXTENSIONS
Party Wall Awards
We can act for the Building Owner or the Adjacent Owner in the preparation and administration of a Party Wall award under the Party Wall etc. Act 1996.
You may require a Party Wall Surveyor if you are planning on any of the following:
- The construction of a new wall at the boundary of two properties. OR
- Cutting into a party wall, for example for removal of a chimney breast, or insertion of a steel supporting beam. OR
- Knocking down or rebuilding an existing Party Wall. OR
- Knocking down or rebuilding a boundary wall under a Line of Junction Notice OR
- Excavations within between 3 and 6 metres of a neighbouring property’s foundations
Schedules of Condition
A Schedule of condition is a means of recording the condition of a building or premises for legal and/ or contractual reasons.
Common reasons for getting a schedule of condition include:
- As part of a party Wall award OR
- To record the condition of a premises at the beginning of a commercial lease where there are repairing covenants
Valuations for Leasehold Extensions
Under current legislation leaseholders of residential property have the right to acquire a new lease for a term of 90 years in addition to any remaining period of the existing Lease. This process requires a valuation of the property with the existing lease and another valuation assuming the extended lease. This is sometimes called a ‘marriage’ or ‘synergistic’ value.
We can provide these valuations and also undertake negotiations on behalf of either the leaseholder or the landlord to arrive at an agreed premium for the extended lease.
Call us now for a free no-obligations quote: