This summary relates to a lease extension in Camden by London Leasehold Valuation Tribunal. The decision was made in 2004. The application was under section 48 of the leasehold reform, housing and urban development act 1993. The leaseholder was Susan Feld and the landlord was Hildron Finance Ltd.
Camden Lease Extension Property
The proposed lease extension for a property known as Flat 10 Greenhill Prince Arthur Road London Camden NW3 5UB
The leaseholder had served a notice to acquire a new lease under section 42 of the Act on 12th February 2004. The Landlord’s counter notice was dated 2nd April 2004. The application to the Tribunal was dated 7th June 2004 for a determination of the lease extension premium payable by the lessee in accordance with Schedule 13 of the Act.
Details of the Lease
The lease was dated 20th October 1971 and made between Pcache y Property
Corporation Limited (11 and Daphne Margaret Barran (2) for a term of 99 years from 25th March 196. The current landlord is Hildron Finance Limited, The lease was assigned to the leasehold owner ( applicant ) on 8th December 1998. The demise is described as -the flat no. 10 on the first floor in the building. known as Greenhill. High Street, NW3 in Greater London and is for the purpose of identification only coloured pink on the plan annexed to the lease.
The leaseholder is responsible for all internal repairs and decorations and for ensuring that the flat is kept in well and substantial repair and decorative order and condition. The lessee is to contribute a proportionate part of the expenses and outgoings incurred by the landlord is the repair maintenance renewal and insurance of the building and the provision of services and other heads of
expenditure which are set out in the Fourth Schedule of the lease.
Leasehold Valuation Tribunal's decision
The extended lease value £535. 000 and the existing lease value was £450, 000
The Tribunal decide that the premium to be paid for this Camden lease extension was £45, 450.