Valuation & Law - Andrew Youens Case Study - Law Assignment Help

Assignment Task

It is not a good day at Floggitt and Fleessam Chartered Surveyors. The senior partner, Charles Protimeter is in a had mood. Ilis graduate assistant. Willie Floggitt BSc Est Man (University of Westminster), grandson of the founder of the finn, is off sick with an attack of dry rot and their most valued clients. IIOSPESTAN

INVESTMENTS . have acquired a large Edwardian block of flats from the receivers of Blenkinsop Holdings (in voluntary liquidation). Cameron House is on five floors comprising the following: 
 

Fifth floor: 10 x I bed flats. 5 x 2 bed flats. Forth floor: 10 x I bed flats. 5 x 2 bed flats. Third floor; 10 x 3 Iced flats. Second floor: 10 x 3 had flats. First floor: 10 x 3 bed flats. Ground floor; 10 x I bed flats ( 5 VACANT). 5 x 2 bed flats ( 1 VACANT) Basement; 400 square metres of storage: could he convened subject to normal approvals being obtained.  
 

All of the 2 and 3 bedroom flats are let to rent controlled tenants who have the current fair rents agreed by the rent officer 4 years ago of; 3 bedrooms £350 per week inclusive. 2 bedrooms £250 per week inclusive. 
 

Similar flats let under AS.1.'s are being agreed at £700 and £800 per week respectively. 
 

All of the I bedroom flats are let on Assured Shorthold Tenancies at a current rent of £2200 per calendar month inclusive. The general level of rents in the area for similar properties on AST's is circa f 3100 exclusive. 
 

In the last 2 years £1,500,000 has been spent on external repairs. £655,000 is to be spent on underpinning and £325.000 rewiring of common parts. 
Mrs Cymbal the tenant of Flat 17 (3 bed) and Bert Smedley the tenant of Flat 15 (2 bed) are not Kapp} as the landlords have applied to the Rent Assessment Committee (RAC) to have the fair rent increased by an average of 20 % as they (11.1.) have recently spent 150,000 on the installation of a new carpet to the common parts. 

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