48 & 48A St John’s Hill, Sevenoaks, Kent, TN13 3NU CHI/29UK/OCE/2022/0013
DECISION
[24]The Tribunal notes that Mr Olden does not support his choice of capitalization rate by market evidence which is regrettable. Nevertheless, using it’s own expertise and noting that his valuations follow current practice and case law, the Tribunal accepts Mr. Olden’s valuations.[25]His report and Appendix 7 show the valuation of the Ground Floor maisonette only. This valuation is accepted for the First-Floor maisonette also. This is shown at Appendix 1.[26]The Tribunal therefore determines that the total premium to be paid for the freehold interest is £31,398. This is based on a premium of £15699 per maisonette. TR1[27]The draft TR1 is approved subject to the following amendments;[28]Panel 9 : the correct consideration shall be inserted in the first section.[29]Panel 10: shall be amended to Limited Title Guarantee.[30]Panel 12: insert "This transfer is executed for the purposes of chapter 1 of part 1 of the Leasehold Reform Housing and Urban Development 1993".[31]Panel 13: add "Signed as a Deed by the officer of the Court nominated to execute this deed on behalf of (name of transferor) in accordance with the Order of the Court dated 13 April 2022." Appendix 1 CHI/29UK/OCE/2022/0013 48 & 48A St John’s Hill, Sevenoaks, Kent, TN13 3NU Mr Olden’s Valuation for 48 St John’s Hill. RIGHTS OF APPEAL[1]A person wishing to appeal this decision to the Upper Tribunal (Lands Chamber) must seek permission to do so by making written application by email to rpsouthern@justice.gov.uk to the First-tier Tribunal at the Regional office which has been dealing with the case.[2]The application must arrive at the Tribunal within 28 days after the Tribunal sends to the person making the application written reasons for the decision.[3]If the person wishing to appeal does not comply with the 28 day time limit, the person shall include with the application for permission to appeal a request for an extension of time and the reason for not complying with the 28 day time limit; the Tribunal will then decide whether to extend time or not to allow the application for permission to appeal to proceed.[4]The application for permission to appeal must identify the decision of the Tribunal to which it relates, state the grounds of appeal, and state the result the party making the application is seeking.