How to value a possible mansard

Apple_2

Hello

The top floor flatowner wants permission from us ( 4 flats in house own freehold ) to build a mansard. His flat currently in a one floor one bed, it will become a two floor two bed with approx double the current floor space.

We've got no problem with this in theory. It's just what's it worth ( the permission )?. Currently he's offering something like 5k per flat. I think it's worth a lot more but this isn't really my thing. It's all being discussed on a sociable friendly basis ie no outsiders/valuers currently involved.

I thought, and I could be totally wrong, that it went something like this..... Take 'worth' of new flat ( 400k? ) less 'worth' of old flat ( 250k?) less costs of works ( 60k?) leaving 90k ish. Marriage value scenario being 50% payable to freeholder 50% top floor flatowner.

Does that sound normal or am I dreaming ? I know something's only worth what someone will pay, but he's the one pushing for this. I've just got the feeling since we're all friendly, he's offering way under it's worth, either deliberately or innocently.

Any idea's ?

Apple_2

Sorry to ..... '''''bump''''''''

aurora_borealis_2

Could the lack of replies be because no one knows what a mansard is?

clutton_2

Mansard in architecture refers to a style of hip roof characterized by two slopes on each of its four sides with the lower slope being much steeper, almost a vertical wall, while the upper slope, usually not visible from the ground, is pitched at the minimum needed to shed water. This form makes maximum use of the interior space of the attic and is considered a practical form for adding a story to an existing building. Often the decorative potential of the Mansard is exploited through the use of convex or concave curvature and with elaborate dormer window surrounds.

It was popularized in France by the architect Francois Mansart (1598-1666). Sections of the Louvre, such as the central portico of the Richelieu Wing.

aurora_borealis_2

clutton wrote:

Mansard in architecture refers to a style of hip roof characterized by two slopes on each of its four sides with the lower slope being much steeper, almost a vertical wall, while the upper slope, usually not visible from the ground, is pitched at the minimum needed to shed water. This form makes maximum use of the interior space of the attic and is considered a practical form for adding a story to an existing building. Often the decorative potential of the Mansard is exploited through the use of convex or concave curvature and with elaborate dormer window surrounds.

It was popularized in France by the architect Francois Mansart (1598-1666). Sections of the Louvre, such as the central portico of the Richelieu Wing.

..... I need a picture. those words make my brain hurt

silvercar

aurora_borealis wrote:

Could the lack of replies be because no one knows what a mansard is?

Glad I'm not the only one!

Posh loft conversion by your explanation. I would want a structural engineer/ surveyor to assess the work and decided if the foundations (& building) are strong enough to support a mansard.

Also consider the othe leaseholders, legally they probably have no say but you might want to check this.

You might also want to consider if the service charge for a larger flat should be increased.

aurora_borealis_2

... I just had to know

Apple_2

silvercar wrote:

Posh loft conversion by your explanation. I would want a structural engineer/ surveyor to assess the work and decided if the foundations (& building) are strong enough to support a mansard.

Also consider the othe leaseholders, legally they probably have no say but you might want to check this.

Sorry for assuming people knew what a mansard is ...... as others have said ( and put pic in ) ........ basically he wants to put another floor onto the building by raising the roof level. It means his flat which is currently one floor will become two floors. Almost double the floor space.

Yes we'll check the building can take it, but we already know it will. Of the 40 or so houses in the street about 35 have had this done. Struct Eng will be involved but we know this is do-able.

The other leaseholders are in the same boat as me and do have a say. There are 4 flats in the building each with a long lease. We collectively bought the freehold many years ago and each own a share ( share cap 4 ) in the freehold owning company. So it's us flatowners ( 4 ) who make the decision yes or no. Actually it's us 3 because the 4th is the one who wants it.

Like I say, if we put aside struct eng, getting plan permission, service chg issues ( which we'll address ) - if we say yes we'll give you formal permission it's back to how much ??

klaatu

I'm a bit confused as to why he should be giving you some money?

Apple_2

klaatu wrote:

I'm a bit confused as to why he should be giving you some money?

Because the freeholder is selling him something he doesn't currently own - the roof space. His lease is only for the flat area as is, that's what he owns. If he wants to make any structural alterations ( rebuilding the roof ) or incorporate the increased upper area into his sole ownership he needs the freeholder's agreement.

klaatu

Yes, after I'd typed that I thought it was probably that he was effectively buying the roof. Doesn't it mean everyone else will have less responsibility for maintenance, so they should be paying him? :-)

Sorry, I'm not being very helpful here as it's something I know absolutely nothing about. I'll shurrup now :-)