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Royal Tower Lodge, 40 Cartwright Street, London E1 8LX LVT Ref LON/00BG/OCE/2012/0219

DATE: 16 Apr 2013

This was a collective enfranchisement claim concerning block of flats near the Tower of London. The landlord, for whom Thomas acted, had developed proposals for a development of eight flats on the roof of the existing building. It had agreed heads of terms to sell a long lease of the roof to a developer for £748,000, and served a s5 notice on the lessees. On receipt of the notice they made a claim for the freehold under the Leasehold Reform and Urban Development Act 1993, and offered nothing for the development value, on the ground that planning permission had not been granted at the valuation date.

The LVT determined a premium which included £862,000 development value.