purchase of freehold

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M
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I currently own 2 flats within a pupose built block of 8. there is approx 66years left on the lease. the freeholder is wanting to retire and sell the leasehold. there is a clause within the lease that states the properties are not to be rented out but this has not been picked up by solicitors or mortgage lenders. I am not the only owner who is renting them out. He is offering us several options, one is to buy a share of the freehold at approx 3800 per lease/flat or create new,less restrictive leases. However he has also offered to sell the freehold of the whole block to myself for 25000. Is there any way I can find out if the asking price is fair and also would it generally be considered a good investment for me to take on alone as opposed to just buying a share x 2 flats. I would like to acquire all 8 flats at some time in the future, as and when they become available.
any advice would be welcome
16/06/2008 00:00

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