Some London buildings have a freeholder who simply cannot be found: the company has been dissolved, the individual has died without traceable successors, or ground rent demands stopped decades ago. Leaseholders in this position can still extend their lease or buy the freehold, but the price cannot be negotiated with a missing person. An absentee freeholder valuation is the independent assessment of the premium payable, prepared for use in the vesting order procedure through the county court and the First-tier Tribunal.
This route becomes relevant once genuine attempts to trace the freeholder have failed, for example searches of Companies House and the Land Registry, enquiries with former managing agents and letters to last known addresses. Leaseholders most commonly need it when a shortening lease is affecting a flat’s value or mortgageability, or when a sale falls through because the buyer’s lender will not accept the remaining term. Rather than waiting indefinitely, the law allows the transaction to proceed with the court standing in for the absent landlord.
Your solicitor applies to the county court for a vesting order, and the premium payable is then determined by the First-tier Tribunal (Property Chamber) on the basis of valuation evidence. We inspect the flat or building, review the lease terms, ground rent and unexpired term, and assess the premium on the appropriate statutory basis, drawing on relevant local sales and settlement evidence. Because there is no landlord to negotiate with, the Tribunal relies heavily on the quality of the valuation before it, and we prepare our figures accordingly.
We provide a full valuation report setting out the property details, the lease analysis, the valuation methodology and our assessment of the premium payable, in a format suitable for submission to the First-tier Tribunal. The report includes the comparable evidence and calculations behind the figure, so the Tribunal can follow our reasoning step by step. Where the court or Tribunal raises questions, we can provide clarification, and we can act as expert valuer if a hearing is listed.
Our fee reflects the work involved in the particular claim rather than a flat rate. Influencing factors include:
We quote a fixed fee before starting, so you can budget for the valuation alongside your legal costs.
Because the premium is fixed by the Tribunal rather than agreed between parties, the valuation must stand entirely on its own merits. Our reports are prepared by RICS Registered Valuers in accordance with the RICS Valuation – Global Standards, the Red Book, and Notting Hill Surveyors is regulated by the RICS. Tribunals are experienced in testing valuation evidence, and a properly reasoned Red Book report from a registered valuer gives your claim the professional credibility it needs to be determined fairly and without avoidable delay.
A common concern is who receives the money when there is no landlord to pay. Once the Tribunal has determined the premium, the sum is paid into court, where it is held for the missing freeholder or their successors should they ever come forward. The vesting order then allows the lease extension or freehold transfer to complete without the landlord’s signature. Our role is to make sure the figure paid into court is fair, so you neither overpay now nor face difficulties later.
If your freeholder cannot be traced and a lease extension or freehold purchase is being held up, Notting Hill Surveyors can help. Contact us to discuss your building and we will outline the valuation process, timescales and fee for your missing landlord claim.