In the first episode of EG Legal’s new podcast series, On the case, Tim Reid, senior associate of Hogan Lovells, offers expert analysis of the Court of Appeal’s recent decision to reject a new valuation method that could have meant tenants paying less to extend leases or acquire the freehold of their properties.
On the case will present a range of industry experts discussing major property law decisions, providing in-depth explanations of court judgments and their implications.
First, Reid addresses the ruling in Mundy v Trustees of Sloane Stanley Estate [2018] EWCA Civ 35; [2018] PLSCS 12, and why the Court of Appeal saw fit to reject the Parthenia model of valuing the premiums to be paid for lease extensions and enfranchisements.
The high-profile case was said in court to affect more than a million leasehold properties, and put billions of pounds at stake.
Mundy addresses the problem of using hypotheticals to arrive at a suitable premium, the extent to which some tenants believe the existing process favours landlords, and the court’s reasoning for its decision – as well as his thoughts on whether there is any prospect of the so-called “holy grail” solution to the issue being found.
Stay tuned to EG Legal for future On the case podcasts.
