What is Marriage Value?

Marriage Value in relation to property value is defined by the Royal Institution of Chartered Surveyors as "an additional element of value created by the combination of two or more assets or interests where the combined value is more than the sum of the separate values". Or as Aristotle MIGHT have said, “The whole is greater than the sum of its parts”.

Marriage Value is applicable in many areas of property, particularly development but in the world of lease extensions and freehold purchase it has a very tangible and sometimes expensive relevance. Under current legislation if you extend your lease or purchase the freehold of your block and your lease has less than 80 years to run, the cost could be double, compared to if you had in excess of 80 years. A timely application could save you tens of thousands.  

Please give us a call if you think marriage value is applicable to you or any of your associates.