Generally, such evidence was given by an expert witness for each side who will argue that a particular value is more applicable based on an analysis of recent sales of comparable properties around the date that the Leasehold Notice was served.
In many parts of the UK there are substantial freeholders who historically have owned and continue to own large land holdings, and this ownership has been and continues to be passed under leased ownership to sub-landlords and leaseholders; this system was particularly suitable when areas of London were initially built on greenfield land, and later in the period immediately after the Second World War, when considerable renovation and rebuilding was urgently required, the estates were able to effectively subcontract redevelopment to sub-landlords, known as head-lessors.
The most notable London estates are those of the Crown Estate, the Duke of Westminster, Earl Cadogan, and Lord Howard de Walden; with the changes in legislation these freeholders are now obliged to sell lease extensions under the various Acts of Parliament which have been passed at prices agreed by negotiation or determined by a leasehold valuation tribunal.
A legally qualified chairman sitting with a Chartered Surveyor and a lay member usually constituted the tribunal.
They hear disputes regarding leaseholds, including their service charges, enfranchisement, and tenants' associations.