Lease Extension Formula Spreadsheet


Formula 1

All that remains for me to do is to offer a download spreadsheet of the formula.

Online widgets as you know do not offer all the functionality of the formula. I have included as much as so far found studying Upper Tribunal cases, such as the various variables aside from ground rent increments and lease values.

It goes without saying that you can’t expect to run the formula and hope to convince either the freeholder or a Tribunal that you are expert in valuations.

The formula is only as good as the stuff it gets to calculate.

However, you should find it interesting to road test various combinations to see how it all works together.

If you have followed my posts on the subject you will know nothing is clear cut in this caper. What the freeholder may counter notice as a premium offer does not have to be based on a valuation, which sort of renders the whole exercise meaningless.

And even if you proceed to a tribunal they seem to be unpredictable.

Matters such as relativity between the existing lease and the extended lease, or any real world comparables, all seem a matter of hope over expectation.

Variables such as the Schedule 10 allowance are also unpredictable depending on your unexpired lease.

But naturally we all like to get some ballpark idea of the depth of the quicksand we may face.

Download info

I use LibreOffice office suite so the spreadsheet originated as an .ods file type. Turns out I cannot upload an .ods file (no idea why not) so I  created an .xls Excel spreadsheet from the LibreOffice Calc version.

It used to be in times past that Excel and Calc did not play ball in certain areas such as function parameters.

For example, LibreOffice uses commas or semi-colons to separate arguments / parameters:
I have no idea if either or both syntax are happy in Excel. If Excel is unhappy for any reason, LibreOffice Calc is free to download and you don’t need the whole suite or the java runtime components.

I’d appreciate feedback if the spreadsheet doesn’t work in Excel. If not I will create a pdf with the cell references. Might do that anyway when time permits.

Lease extension formula

Formula 2


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