SHORT LEASES

Central London has an abundence of leased property, granted on long term tenancies, but now with less than the number of years required to make them mortgagable, being generally less than 30 50 years unexpired. Applications to extend the length of these leases are dealt with by the Leasehold Reform Housing and Urban Development Act 1993, which allows a leaseholder to extend his current lease by 90 years, subject to certain conditions being met. Owners selling these assets, can put themselves in a better position from a marketing perspective, by small amount of legal preparatory work, allowing for a smoother sale and generally a higher selling price. For more information please contact me.(property shown being marketed by Faradays of London: 18 year lease in Portman Sq, London, W1