Ground Rent

[jack35]

I own the leasehold on 8 terraced houses for which the occupiers pay £15.00pa each ground rent. One of the occupiers would like to buy the leasehold on his house, but the others are not interested.

What would be a reasonable sum to ask him to pay? The lease has approximately 59 years to run.

[stoofur]

I am currently going though a similar thing. If the tennant wants to extend the lease then he/she has to pay your legal fees and costs. Therefore I went down the route of a lease valuation which cost the tennant £300. The valuation came to me at £9000.00 for a 90 year extension on a 72 year remainder on the lease

[stoofur]

I am the freeholder by the way not the person wanting to extend the lease.

[themas]

The shorter the remaining term of the lease, the more valuable the freehold becomes. Don't just guess at this. It needs to be calculated by a surveyor who is fully experienced in valuing these freeholds. Go here:

www.lease-advice.org

You may find info on the site about suitable surveyor firms. If not, ring the helpline & you can get a list.