The right of owners of leases to purchase the freehold

Whether you are the leaseholder of a house or a flat, or a landlord in receipt of a notice, we can give clear advice on complying with the statutory procedures for the sale or purchase of the freehold of a building.

Purchase of the freehold of your building can be complicated, frequently fraught with problems, but wholly achievable by an ordinary leaseholder. It does not matter whether the property is a major mansion block, a modern tower or a simple three flat conversion, the principles and procedures are much the same.

A group of lessees has the right to purchase the freehold of their building, provided certain conditions are met. This is known as “collective enfranchisement” and has the advantage that the lessees not only take control of the maintenance and management of the building but also that the wasting asset of the lease can be replaced with a new lease of up to 999 years and the elimination of ground rent.

In the case of houses, since 1967 individuals have been able to forcibly acquire the freehold of their house, although initially the right applied to lower value houses. Legislation has extended this right to include higher value properties and the relaxation in qualification has resulted in many more claims being made.

Our specialist team are actively involved in all aspects of enfranchisement for houses and flats advising landlords and leaseholders in claims and counterclaims.

There are other circumstances by which you may be able to obtain the freehold of your building. You may have been served with notice under the Landlord and Tenant Act 1987, stating that the landlord wishes to sell your building or be aware that the building has recently been sold.

Whether you are a landlord wishing to dispose of premises containing residential flats, or a lessee in receipt of a notice, it is very important to take advice on the statutory obligations and procedures under the right of first refusal.

The team at Thomas Eggar LLP can provide a specialist advice for all aspects of freehold reversion sales and purchases, including guidance in opening discussions with the lessees or freeholder through to the appointment of managing agents.

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For more information, please contact:

Chris Baker, Partner
Tel: 01293 742866
chris.baker@thomaseggar.com

Marcelle Turner, Manager
Tel: 01243 813101
marcelle.turner@thomaseggar.com