Purchasing common area

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Purchasing common area

    Hi we own a leasehold flat in london, where the freehold is owned by an external management company (not the other lessees in the building). We want to purchase the space that is outside our flat (is small portion of the hallway) that can easily be annexed off. Is it as simple as agreeing this with the freeholder? thanks

    #2
    No because all the other leases probably have some rights of access as well so you will need their agreement too. Probably.

    Comment


      #3
      If it's outside your flat, it could be already part of your flat. Have you checked your lease to see if that space is demised to you? By the way, why are you interested in that space anyways, what do you intend to do with it?

      Comment


        #4
        If the other lessees can go into that spot you would likely need to compensate them and/or the freeholder. You will also need to pay for variation in all leases to reflect your higher service charge percentage.

        Comment


          #5
          In addition to comments above, you might want to check if other owners would be able to get beds & settees in/out of their flats with your alterations.

          Comment


            #6
            Thank you all. Any idea what type of legal costs would be involved in Andrews solution?

            Comment


              #7
              A deed of variation costs around 1500. 750 for your costs and 750 for the freeholder costs. Multiply that x number of apartments.

              Comment


                #8
                From what I gather, you will need at least 75% of the leaseholders to consent to a lease variation and it must not be opposed by more than 10%. Why are you interested in annexing that space?

                Comment


                  #9
                  We thought we could use it to move our bathroom to. That’s interesting as the top floor are also trying to Annex space as they are buying the flat below. Thanks all for your help above, its super useful

                  Comment

                  Latest Activity

                  Collapse

                  Working...
                  X