The Council is the freehold owner of a block of flats known as 124
and 138A Carfax Avenue Tongham. Flat 128 was originally sold 22
February 2016 under the provisions of the Right to Buy for a term
of 125 years from 1 July 1985 and at a ground rent of £10.
The lessee served a notice on the Council in accordance with the
Leasehold Reform Housing and Urban Development Act requesting an
extension of the term of the lease to make it more saleable on the
open market. The sale progressed and the notice to extend the term
was assigned to the new owner. Under the legislation, the Council
as the competent landlord, is required to grant a new lease to the
owner of the flat for an additional term of 90 years on top of the
unexpired term of the lease, and on the same terms as the existing
lease, save that the annual ground rent will be a peppercorn if
demanded.
The consideration for a new lease is governed by the legislation
and determined by valuers. The lessee will be required to pay all
of the Council’s legal and surveyors costs