Context

• The London Borough of Camden was proposing to grant a 25 year lease to Lauderdale House Society Limited at a nominal rent with a surplus rent top up. 
• The Council set up a trust to run the park and its buildings including Lauderdale House.  
• Lauderdale House is a local community building in the London Borough of Camden offering a range of arts, education, heritage and community activities.
• We were instructed to prepare a valuation on behalf of the charity.

Our Approach

• We prepared a Valuation Report under section 119 of the Charities Act 2011 and in accordance with the Charities (Qualified Surveyors’ Reports) Regulations 1992 (SI 1992/2980) for the disposal of a lease.
• Our team provided a written report on the proposed disposition acting as Qualified Surveyor to the trustees. 

The Results

• Our valuation allowed LB Camden to grant the lease and the Trust to secure around £800,000 of Heritage Lottery Funding.
• We advised the Council to vary the terms of the disposition and transfer the repairing liabilities onto the tenant and discussions are ongoing.