The Law Commission has recently published a report setting out options to reduce the cost to leaseholders to either buy the freehold interest or extend their lease under the various Leasehold Reform Acts. The proposals would intend to make it easier and more affordable to lessees to deal with these matters. The proposals include setting out prescribed rates to be used in calculating the price/premium, capping any onerous ground rents and the creation of an online calculator for determining the premium.
In the Upper Tribunal decision Zucconi and Anor v the Trustees of The Barry and Peggy High Foundation in which Tony How of Davis Brown, represented the Trustees, the Tribunal preferred his approach in respect of the calculation of the Relativity which is based on the new Savills (2016) and the Gerald Eve’s (2016) graphs. This property was outside prime central London and the new graphs should provide the basis of calculating the Relativity comparatively simply in the future, rather than arriving at an average of many other graphs which did not contain any open market evidence analysis.