Case Study

7 Snowberry Way, Whitby

Details:

Our client wished to acquire the freehold to this property which had 137 years still to run with an original rent of £80 pa reviewable by reference to Retail Price Inflation every five years, and had risen to £128.18 pa.

During our valuation we noticed that the reviewed rent should actually be £113.25 pa, and we asked the Landlord to refund the overpayments made, it did, and we supplied a valuation based on the correct rent subsequently agreeing a price marginally above our valuation.

The Landlords solicitor later asked for legal fees of £1250 + VAT and a valuer fee of £400 + VAT. We served completion notices and unilaterally paid £800 + VAT in total for Landlords solicitors and valuers fees, and asked for a schedule of costs for submission to our clients costs consultants but the Landlords solicitor did not reply and no further assessment was made.