Lauderdale Mansions (South) is one of the most sought after mansions blocks and properties tend to sell very quickly.  A flat in LMS is probably worth at least £50,000 more than other similar flats.

It is worth appreciating what buying an LMS flat gives you over and above other apparently similar flats in the vicinity - these are the things that the local estate agents don't tend to tell you!

Most importantly when you buy an LMS flat you get a share in the ownership of the company and, indirectly, the Freehold of the building.  Each flat comes with 1 share out of a total 142.  Through this ownership you get to vote for the Board directors who control the management and maintainance of the building - indeed you are encouraged to become a Director yourself.

Since the service charge for the flats has been maintained at the same level while work on maintaining the building has been accelerated,  Cash deposits in the order of £300,000 are also held.

As well as owning the Freehold of the buildings and garden, the company also owns a basement flat which is occupied by the resident porter.  The value of the share in the company is probably worth £10-20,000.

Lauderdale Mansions (South) has a large and impressive garden compared with most other mansions blocks in the area.  It is also south-facing. The garden can be used by all residents and adds a premium to the value of each flat.  Again this is probably in the order of £10-20,000.

Finally most flats in LMS have a 999 year lease and comparable flats often have 99 year leases.  Although the cost of moving from 99 to 999 year lease would differ for each flat it is now likely to be about £40,000.

Therefore when looking at LMS flats please consider the additional value you acquire when compared to similar sized flats in other blocks - you may find you are paying a slight premium but you will find that it is worth every penny!