The Association of Leasehold Enfranchisement Practitioners (ALEP) welcomed more than 160 leasehold sector professionals to its Annual Spring Lecture at 11 Cavendish Square on 1st March 2022. The event celebrated St David’s day by looking at the ‘Welsh case’ the Upper Tribunal decision in Llangewydd Court and the key issue of the deferment rate used in the enfranchisement calculation.
The key issue discussed was whether the deferment rate in fact should be reduced based on real world economic evidence that the risk free rate (one of the key components in the Sportelli calculation) has fallen quite dramatically sin the original decision in Sportelli in 2006 (see Cadogan & Anor v Sportelli & Anor  EWCA Civ 1042) and whether this should now be re-addressed and if so, how.
For details of the original case see: bailii.org
Speakers at this event included Tanfield Chambers’ Mark Loveday and Piers Harrison, Mohammed Khalil of Oxera Consulting and a panel discussion chaired by Mark Chick with Fiona Haggett, Head of Valuation at Barclays UK, and Henrietta Hammonds of valuers Beckett and Kay.
Bishop & Sewell is as ever delighted to be members of and to promote the work of ALEP, an apolitical, professional association that seeks to promote excellence in this sector.