Obtaining a market value of the property helps us produce a lease extension valuation. But we also need to include figures and yields obtained through years of experience and previous tribunal decisions (both First Tier and Upper Tribunals). Essentially, our reports determine the figure that the leaseholder should pay to the freeholder to extend their lease. They also detail the best- and worst-case scenarios for both parties. The Leasehold Reform Housing and Urban Development Act 1993 is the primary legislation on Leasehold Extension. 

Leasehold Extension or Enfranchisement as it is sometimes called, is a complex area and we would advise you seek professional advice before proceeding. At Dunham Hale Surveyors, we can assist with any questions you have before moving forwards.