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 Collective Enfranchisement
Acting for leasehold flat owners who had agreed the purchase of the freehold from their landlord, we arranged for a company to be set up with all three sets of leaseholders registered as shareholders. The company then acquired the freehold. Following our advice, and to maximise the value of their individual flats, the leaseholders granted themselves lease extensions for a maximum term of 999 years, with a peppercorn ground rent.
By combining the purchase of the freehold with lease extensions and the modernisation of the lease provisions, we ensured that our clients had the best possible title to maximise value and to avoid any future problems if and when they came to sell.
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