Parthenia Indices or ‘Pi’ is a company founded by James Wyatt F.R.I.C.S and Professor Stephen Gibbons to provide reliable local property market indices based on sales data and using robust econometric methodology. Previously the team created indices for a leading estate agency, which by using actual exchange data, have proved at tribunal and court to be the most accurate available. The benefits of this research has been to raise the agent’s profile and to increase the number of instructions.
Parthenia Research has been set up by academics to ascertain the true relationship between the value of the freehold of a property against the value of the property held on a lease (without rights). This research started in 2011 and is the only analysis to use thousands of actual flat and house sales from the ‘no-Act world’.
The analysis is robust and we utilize standard statistical techniques. The results are ‘freeholder friendly’ for very short and very long leases and our research may increase the amount due in compensation. However, for leases between 15 years to 70 years it is ‘leaseholder friendly’ and may significantly reduce the cost of extending your lease or buying your freehold e.g. for a mid term lease the reduction may be circa 30%.
If you are in need of a valuation for tax purposes or are thinking of extending your lease or buying your freehold we will be delighted to advise. We are specialists and act for everyone from individuals to trusts to royal families to governments and have even acted for the Metropolitan Police. Geographically we cover central London and have advised on property from Kensington Palace Gardens to the Bishops Avenue and in size everything from studios to penthouses and mansions. We trust we can help and look forward to hearing from you.