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Development value

A factor taken into account for assessing freehold purchase of flats and houses. It refers to the value of any potential development leaseholder(s) can do following acquisition of the freehold. For example, leaseholders acquiring the freehold of a building may be able to unlock value by converting the property back into a single house.

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LEASE is governed by a board, appointed as individuals by the Secretary of State for the Department for Levelling Up, Housing & Communities.