On 3 December 2008 Willesden County Court in London transferred freehold via a vesting order for property in Craven Park, London NW10 8SU under section 26 of the Leasehold Reform, Housing and Urban Development Act 1993 (“the Act”) vesting the freehold in the Nominee Purchaser, in the belief that the relevant landlord could not be found.
In directions issued on 25 February 2009 the Leasehold Valuation Tribunal indicated its intention to determine the price on the basis of papers submitted and without an oral hearing. No party requested an oral hearing and the ’Tribunal considered the papers on 15 April 2009. Further information from the Nominee Purchaser’s valuer was required and a further bundle of papers was received on 9 June 2009. These were considered by the tribunal on 22 June 2009.
The premises comprised 5 flats and 3 garages in a Victorian block in Harlesden – London . The tribunal took into account that if all 5 flat’s leases were extended to 999 year leases the combined value of the flats would be in excess of GBP 700, 000. The Leasehold Valuation Tribunal determined that the premium for the freehold should be GBP 41, 140