The Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) grants leaseholders, amongst other things, the right to add a 90-year term to their existing lease at a peppercorn rent provided that the leaseholder meets certain qualifying requirements. The right is individual to the leaseholder, so does not need collective action by other leaseholders in the building. Provided the necessary formalities are complied with, the landlord is compelled to grant a lease extension. Where there are disagreements, such as in respect of the premium due to the landlord as a result of the lease extension,