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The existence of a head-lease in relation to a residential block of flats has considerable significance in a claim for a lease extension. As well as arguments to the value of the head-lessee’s interest, conveyancing issues are likely. When a sub-lessee claims a lease extension, terms will be needed for provision of services after the termination of the head-lease. When a head-lessee itself claims for a particular flat, there will be a surrender of the head-lease in respect of that flat, leading to argumen

The most common insurance claim in blocks of flats involves water leaks. It is perhaps an accepted hazard of high-density, multi-occupancy, urban communal living. However, as this case study shows, in extreme cases water leaks are a serious problem damaging both property and wealth. Imagine a typical new build with 80 plus units constructed in the last five years, in the midst of the housing construction boom. It could be just one of many attractive new build developments that seduced purchasers with as

A recent court of appeal case has brought a clear – and positive – impact on landlords’ ability to recover their legal costs when pursuing service charge debts. ‘69 Marina’ has clarified that both County Court and Leasehold Valuation Tribunal (LVT) costs can be recovered. 69 Marina – how the case unfolded 69 Marina is a block of six apartments, five of which had been let on 99-year leases that began in July 1985. The lessees had failed to pay service charges relating to repair works. In April 2007,

The Ringley Group have recently produced a market research report into the ownership, services, management and running costs of apartment buildings in London. Here Mary-Anne Bowring shares some highlights.Apartment buildings There are currently 1,252 apartment buildings across inner London containing 30+ dwellings, 60% of which are in Zone 1 and the Docklands constructed during the last property boom. The balance comprises 2,123 smaller apartment buildings with up to 29 dwellings and commercial premises.

Leisure facilities are becoming commonplace in private residential developments and can be run safely and efficiently providing there is an effective management plan in place. Failure to manage properly could result in the managing agent or property owner being liable for injury caused by break down or malfunction of equipment in addition to the potential for the managing agent to be responsible for accidents or incidents if the equipment is not maintained properly. Residential gyms are commonly un-staf

The Association of Leasehold Enfranchisement Practitioners celebrated their 5th Anniversary with a dinner in the Riverside Room at the Institute of Electrical Engineers in London. The highlight of the evening was an entertaining after-dinner speech by former Tory Government Minister, Anne Widdecombe. A highly accomplished politician, Anne Widdecombe explained that she had pursued a television career partly to draw attention to issues which would otherwise have been lost and forgotten in Parliament. With s

In an interview with Janet Entwistle, the new CEO of the Peverel Group, News on the Block have learned more details about the purchase of Peverel and some of the plans moving forward. To facilitate the transaction, a new company was formed as a corporate vehicle to purchase the operating businesses of Peverel from the holding companies.  Janet explained: “£50.7m was paid for the business and £11m in cash was retained.  RBS have provided £25m of debt and that has given us a more suitable capital structur

£62m BUYS PEVEREL OUT OF ADMINISTRATION Peverel bought out of administration £62m transaction £125m borrowings reduced to £25m New CEO & Chairman appointed Peverel Group, the largest residential managing agent in the UK, has been bought by a consortium of private equity companies comprising Chamonix Private Equity and Electra Partners.The holding companies of Peverel were placed into administration in March 2011 and Zolfo Cooper were appointed as administrators.  However, this trans

The Enfranchisement and Right to Manage Awards 2012 (the ERMAs) recognises the excellence and professionalism of all specialists working in this industry both at an individual and company level. The awards will be held at The Congress Centre, 23 - 28 Great Russell Street, London, WC1B 3LS, on May 24th 2012. There awards are judged based on a set of comprehensive entries from industry professionals against a range of specialist criteria which includes quality of service, case studies, technical expertise,

We often hear from clients ‘Is all this “Elf ‘n’ Safety” nonsense necessary, it’s only a residential property after all!’ Sadly “Elf ‘n’ Safety” makes the job of the professional advisors so difficult to put over the very real legal obligations that face our Clients. The formula of exaggeration, half-truth, generalisation and myth-making has created a great British joke, the one about health and safety gone mad. It’s entered our social fabric, something to be shared and ‘tut-tutted’ at over breakfast tab

It’s very important to get independent advice from a chartered surveyor prior to starting the process. Before commencing the lease extension or enfranchisement process, it is always prudent to obtain advice from an independent chartered surveyor as to likely costs. Indeed, it could be a costly error if you discovered once agreement had been reached that you could not afford the premium and the associated costs, which would include your own legal and valuation fees and the reasonable legal and valuation

Imagine a headlease of a block which consists of ground floor commercial premises, common parts, and 20 flats, 15 of which are held by qualifying tenants, four of which are occupied by assured shorthold tenants and one of which is a caretaker’s flat. The nominee purchaser is obliged to acquire the interest of the headlessee insofar as it extends to the 15 flats held by qualifying tenants. It is entitled to acquire the common parts, assuming that the acquisition of the same is reasonably necessary for pro