Sentences with phrase «statutory lease extensions»

It has even been possible, in one case, for the head lessee of a large mansion block in east London to claim statutory lease extensions on all 28 of the flats within the building — Maurice v Hollow - Ware Products Ltd [2005] 2 EGLR 71, [2005] EWHC 815 (Ch), [2005] All ER (D) 254 (Mar).

The tribunal said that what drove the open market sales prices was purchasers» expectations that they would be able to make a profit by selling statutory lease extensions and releasing marriage value, whereas, paradoxically, in the hypothetical world envisaged by the statutory valuation, this possibility had to be disregarded.

The tribunal also concluded that the sales prices being achieved were hopelessly corrupted by the influence of previous tribunal determinations on the purchase prices for statutory lease extensions or for freeholds: those prices, in effect, determined what purchasers would pay for the reversion, which made the evidence circular and therefore worthless.