Selling Freehold - Ltd Company

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    Selling Freehold - Ltd Company

    We are hopefully moving on and we will want to sell the freehold that we own in a Ltd company in the next 6 months or so. We have just had enough of the politics of living in a flat, and especially being the freeholders and living on site.

    Now we know if we were to sell the freehold we have to offer it to the leaseholders and they have 2 months to reply to us. We are about 99% certain none of the leaseholders will want to buy as they just won't have the money.

    When we purchased the freehold we did it via way of purchasing the limited company. As the leaseholders a year previously had all refused to purchase the freehold and we had then come along and purchased our leasehold flat and wanted some control over service charges etc....

    Can we sell it again via way of Ltd company and if we do how do we go about selling this? We are going to speak to our managing agents and see if they can be of any help next week.

    There are some good returns to be had on the lease lengths. The ground rent is only £175 a year for all 4 flats.

    The lease lengths are:-

    Flat 1 - 88 years left
    Flat 2 - 64 years left
    Flat 3 - 65 years left
    Flat 4 - 96 years left (we own this one)

    Can anybody help? I just want to sell our flat, sell the freehold and move on.




    #2
    Supposing you sold the FH to a speculator, couldn't that drop the value of your flat. And between you selling FH and selling LH, what mischief could they cause, putting in a voracious MA to maximize returns.

    On the other hand, if you managed to sell FH to the others quarter each, I can imagine the fun explaining to LH 2 and 3, that the 999 year lease they want to grant themselves will involve giving quite a lot of money to LH 1 and 4.

    How about grant yourself a long lease, sell the flat, then sell the FH, you will not care at that point who buys it. I would expect you would get less money this way, but it is harder to find a FH investor who also wants a flat since BTL has died.

    If running the FH is a pain, let the LHs investigate choosing an agent to run it at their expense.

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      #3
      Why not just serve section 5 notices now, then when you sell you can offer the Ltd Company to the purchaser or sell it after.
      Personally I would keep the FH leave the MA to run it and wait for the inevitable lease extensions

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