Tenants Win Five-year West End Lease Battle

摘要

A five -year legal battle over a 90-year lease extension at a West End flat ended in victory for the tenants last week after a landmark ruling by the House of Lords.Mr and Mrs Sportelli are now free to extend the lease on their property at 59 Cadogan Square in Chelsea by 90 years from freeholder Cadogan Estate.The lords ruled on the issue of 'hope value', to which Cadogan claimed it was entitled in exchange for granting the extension. Hope value is the additional sum that an investor will payin anticipation of selling to another purchaser in the future who could obtain extra value from granting a lease extension or enfranchisement.