Leasehold enfranchisement is where a number of leaseholders have the right to collectively buy the freehold interest in the building in which their property is situated.
If at least 50% of leaseholders in your building wish to buy the freehold, and leases have at least 21 years unexpired as well as leaseholders having owned or lived in their property for more than two years, it is likely that you would be entitled to collectively purchase the freehold and subsequently extend your leases.
If you are a group of leaseholders wishing to enfranchise we can act on your behalf, providing you with valuations and negotiating the lowest possible figure payable to the freeholder.
Obtaining a share in the freehold and extending your lease would add value to your property, and the uplift would likely far exceed the cost of enfranchisement.
If you are a freeholder and have had notice served for enfranchisement by the leaseholders, we can provide you with valuations and negotiate the highest possible figure payable to you.
ANFord Chartered Surveyors specialise in Leasehold Reform, to include leasehold enfranchisement. We have acted on behalf of both leaseholders and freeholders and have achieved favourable results for both.
If you wish to discuss your requirements or the processes involved in leasehold enfranchisement, please do not hesitate to contact us.