An interesting circumstance regarding a leasehold issue

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C
Ceilidh
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I own the freehold of a modest three floor, three flat converted property circa 1900. The top floor is leasehold, the lower two I rent out on periodic tenancies. I granted the lease on the top floor in Nov 1988; and the lease is now held by the third lessee. It has recently come to my notice that leases with less than 80 years to run pose a considerable problem to the lessee along with a possible advantage to the lessor/freeholder, and that a leasehold property with less than 70 years to run will be extremely difficult at best to mortgage if the lessee wishes to sell.
The lessee has done me no favours in the past, needing several reminders each year to pay her ground rent and any 1/3 portion of works to the property as per the leasehold agreement. Most importantly she moved abroad and rented out her flat without any notification to me, thereby rendering the buildings insurance on all three floors null & void, and consequently when I discovered this and rectified the situation, more expensive.
Some years back she refused a decent market value offer from me to buy back her flat on the grounds that local prices were much higher. The valuations she used were for new build apartments in the local town centre, and conversions in listed ex military buildings of great character and historical interest.
So what to do in my best interest? How do I play this?
18/11/2015 19:51

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