Join the Residential Landlords Association

Leaseholder Buying Freehold

You are here : Member Forums Other Leaseholder Buying Freehold
Londonlandlord
Londonlandlord
5 Posts
0 Thanks

Hi everyone!

A question on leaseholders buying a freehold, insights much appreciated.

A converted house with three self contained flats on 999 year leases and no ground rent. 3-bed on ground floor, 2-bed on first floor and 1-bed in the converted loft. Each flat owned by different people (not occupiers but BTL landlords I believe) and freeholder no longer ‘owns’ any of the three flat leaseholds, so wants rid of the freeholder responsibilities. In the past couple of years, he moved from personally managing to using a managing agent as the first step down this road with hindsight. Could conceivably put freehold up to auction if none of the leaseholders wants it - not sure what demand there would be unless they would charge unreasonable management fees...

Any pros/cons or considerations in buying the freehold alone versus dragging the other two leaseholders along? Freehold price fairly nominal. In an ideal world I would buy the leaseholds from the other two and just own the whole building.

Thank you

28/10/2019 13:54

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

Landlord & Investment Show London Olympia 2019
Residently
99 Homes
John Pye Auctions