What with all the ‘best of’ and round up lists of 2011 popping up everywhere, I thought I’d share a little case of ours from last year.
In December 2009 we advised a lessee that the freehold of their 927 year lease was worth £129. It took until September 2011 for the LVT to determine the same, with a £2,000 costs award against the freeholder along the way in the county court for not admitting the claim. The freeholder’s conduct was not any better in the LVT nor less obstructive and unreasonable. Another cost was awarded against him for the maximum of £500.
As far as we know the premium determined by the LVT of £129 is a record-breaker and the LVT determination itself was delivered 24 hours after the hearing, which we also think is a record! An application to the Guinness Book of Records is pending.
The Landlord lost just under £2,400 on the deal. An interesting case in its own way.