The Cadogan Estate will hear next week whether it has succeeded in overturning a ruling that “hope value” should not be added to the price paid by leaseholders for leasehold enfranchisement.
On Wednesday, the House of Lords will give judgment on the joined appeals of Earl Cadogan v Sportelli [2007] EWCA Civ 1042; [2008] 1 EGLR 137 and Pitts v Earl Cadogan; Earl Cadogan v Atlantic Telecasters Ltd [2007] EWCA Civ 1280; [2008] RVR 244.
“Hope value” is the value arising from the option that a freeholder would enjoy in the real market if it was to sell the freehold or a leasehold extension to the tenant in the future.
Cadogan argued that if the Court of Appeal’s finding that hope value should be excluded is correct, then, the law is not compliant with Article 1 of the First Protocol to the European Convention on Human Rights and must be reinterpreted.
