Bicester Lease Extensions By Woodward Surveyors
If you are a qualifying leaseholder, with property in Bicester, you will have the right to claim an extension of your existing lease of an additional 90 years at a “peppercorn” rent (effectively rent free).
Your statutory right is contained in the Leasehold Reform Housing and Urban Development Act 1993 (as amended) and this legislation sets out the procedures which must be followed by a flat tenant to claim this right.
Here we explain briefly the procedures involved in exercising your statutory right to claim a lease extension.
Qualifying requirements For A Lease Extension
Briefly, in order to compel a landlord to sell a lease extension the building must be:
1. A residential structure, not a commercial building.
2. Outside the precinct of a cathedral.
3. Not owned by a charitable housing trust, National Trust or the Crown.
And the flat tenant must have:
1. A lease of more than 21 years when granted.
2. Owned the lease for at least 2 years at the time of serving notice.
3. Not be a business or commercial tenant.
More About Bicester, from Wikipedia, the free encyclopedia
Bicester is a town and civil parish in the Cherwell district of northeastern Oxfordshire in England.
This historic market centre is one of the fastest growing towns in Oxfordshire. Development has been favoured by its proximity to junction 9 of the M40 motorway linking it to London, Birmingham and Banbury. It has good road links to Oxford, Kidlington, Brackley, Buckingham, Aylesbury and Witney, as well as a railway stations on two axes; Bicester North and Bicester Village.
It has its own town council, approximately a one quarter of the population hence ward contribution to the District Council and further representation as to different local governmental matters on the County Council. The other large town in the district is Banbury. In 2014 the Government in concert with the local planning authority planned for Bicester to become a garden city on the basis of the size of its buffers, distance from the Metropolitan Green Belt and in part to accommodate the demand of commuters to London and Oxford. Up to 13,000 new homes will be built. As the crow flies, Bicester is 51.2 miles southeast of Birmingham and 51.6 miles northwest of London.
What does a Lease Extension Valuation by a Chartered Surveyor, for a property in Bicester include? Find Out More.
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