- Category: Leases & Titles
This is a hidden-gem of legislation that can help unlock value in commercial property that are held on long leasehold interests – getting very technical on the legal side, but worth it if you’re in this situation.
This has recently come to light in a legal case called Shaviram Normandy Limited v Basingstoke and Deane Borough Council  UKUT 256 which has a good legal explanation here.
In short, this covers a situation where the “owner” of a commercial property holds it through a long lease rather than freehold, like when your “own” flats in a block. This lease may well restrict what you can use it for, and in this day and age of needing to look at alternative value-driven ways this can therefore cause you a problem with proposed...Write comment (0 Comments)