Leasehold Enfranchisement
We have a deep understanding and expertise in residential leasehold enfranchisement and the ground rent asset class generally.
Under current legislation, lessees of a block of flats are able to force the freeholder to contract to sell the freehold interest to the lessees collectively. Alternatively, an individual lessee has a statutory right to acquire a 90-year extension of the existing lease.
The relevant legislation is complex and lays down a formal procedure which must be followed. As a result of recent Law Commission reports into Leasehold Reform, there is expected to be significant reform of the leasehold enfranchisement legislation which is expected to have a wide-ranging impact in relation to the procedure to be followed, valuation approach, and investment value.
We advise freeholders and lessees on their respective rights under the relevant legislation and the possible legislative changes considering the Law Commission recommendations. We handle a significant number of ground rent acquisitions, and lease extensions at any one time.
We are a member of the Association of Leasehold Enfranchisement Practitioners which is made up of various types of property professionals spanning many property sectors, who have a proven track record in leasehold enfranchisement.