Will buying my freehold allow me to do loft conversion?

oceanpie

I own one of two flats above a shop, both on the same level, and would love to convert my loft into a second floor. I enquired a few years ago, and was told it wasn't possible. Having read Martin's article about buying your freehold a few months back, it's just occurred to me that maybe that would leave me free to do as I wish with my loft, as I'd own it rather than my freeholder. Does this sound right, or am I missing something? Obviously I'd have to get my neighbour to agree on buying the freehold as well.

Can anyone shed any light?

Many thanks in advance

tizerbelle

You are in a flat above a shop - you will never get "your freehold". You may get a part share in a freehold or be on a managing committe for the freehold but you won't own the freehold outright. Freehold refers to the piece of ground the property is built on. There is a shop below you so whatever freehold there is will include the shop.

You could ask the freeholder if they would extend your leasehold to include the loft space (at a price) and then you could possibly, subject to planning etc, extend into it.

G_M

Of course the OP can get the freehold. If the current freeholder agrees to sell it to to him!

However, you would need to look carefully at the other leases (the shop and other flat) tosee whether those leases have any imbediment to incorporating the attic into the lease of your current flat (that lease would remain in force - you would own the lease, and freehold, as seperate legal Titles).

You would also of course have to look at Planning Permission and Building Regs.

tizerbelle

I stand corrected G_M.

For some reason buying the freehold outright as sole owner never crossed my mind - must have been that strange shiny thing that was in the sky earlier affecting my bonce!

neverdespairgirl

You might be able to buy the freehold, but if it includes a shop paying rent, it's going to cost an awful lot more than it would if the whole of the building was on long leases paying small amounts of ground rent each year.