Leasehold solutions

armour

I think there are 48 flats in the two buildings that use the same management company. There are however, other blocks in the neighbourhood, whose freeholds are owned by the same (in administration) company. I was given to understand that the administrators will probably try to sell all the freeholds together.
In total I believe they number 300 leases.
Incidentally, the guy who runs the management company was at the meeting and was quite antagonistc towards the speaker. He seemed to be saying that we could all purchase the freehold without their help. I found that a bit lame because the freeholder has been in administration since January of this year and he's never mentioned this possibility before.
I need to inform myself about the whole process. Can anyone recommend a good book on the subject please?

Fire_Fox

armour wrote: »

I think there are 48 flats in the two buildings that use the same management company. There are however, other blocks in the neighbourhood, whose freeholds are owned by the same (in administration) company. I was given to understand that the administrators will probably try to sell all the freeholds together.
In total I believe they number 300 leases.
Incidentally, the guy who runs the management company was at the meeting and was quite antagonistc towards the speaker. He seemed to be saying that we could all purchase the freehold without their help. I found that a bit lame because the freeholder has been in administration since January of this year and he's never mentioned this possibility before.
I need to inform myself about the whole process. Can anyone recommend a good book on the subject please?

Each residential freehold has to be offered to the leaseholders, they can't be sold as a job lot unless you guys miss the boat that is misleading. I doubt you will get together with all 47 other flats only the ones in your block - collective enfranchisement - how many of those attended the meeting?

As already posted not a book but an excellent government funded website. The thing with books is they get out of date very quickly with legislation changing every couple of years and they are likely to be very expensive because they will be aimed at the professionals.
http://www.lease-advice.org/publications/

propertyman

Well not quite firefox. They must offer the right to first refusal to each block or where there is an issue of division of say two neighbouring blocks, in parcels.

But they can still offer to sell the freeholds for sale as one lot subject to those notices. That way I agree to buy all 10, but understand some blocks might proceed with as section 5 purchase and end up buying 8 as a "job lot"

Fire_Fox

propertyman wrote: »

Well not quite firefox. They must offer the right to first refusal to each block or where there is an issue of division of say two neighbouring blocks, in parcels.

But they can still offer to sell the freeholds for sale as one lot subject to those notices. That way I agree to buy all 10, but understand some blocks might proceed with as section 5 purchase and end up buying 8 as a "job lot"

Not really sure how that differs from "they can't be sold as a job lot unless you guys miss the boat that is misleading."

armour

Started new thread " Leasehold purchase - Advice requested"