Anyone acquired loft space off freeholder?

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  • Anyone acquired loft space off freeholder?

    Hi Everyone,

    Has anyone acquired the loft space above there flats off the freeholder if so how much did they pay for it?

    I have a one bed flat in South Wales and have had a letter in the past few days off the freeholder asking if I would be interested!

    They want the following:-

    £7000 to enter into deed of variation
    £75 extra per year ground rent
    £850 + VAT legal fees
    £500 for approval of plans for loft conversion if I converted it into a room

    This seems bit much to me so was wondering what other people had paid?

    I have done an advanced search and found loads of information but not much on how much people have paid for loft space.

    Many Thanks
    Mathew.

  • #2
    It sounds like your Freeholder is desperate to raise some funds. If the loft space is only accessible via your dwelling then it’s of no interest to any other parties. If it was me in your position, I would make them wait awhile then reply with a substantially lower counter offer.
    Because the Freeholder has approached you, you’re in a good position to negotiate.

    Best wait for more knowledgeable members who will offer you the best advice.

    Comment


    • #3
      Originally posted by matt_turbo_2000 View Post
      Hi Everyone,

      Has anyone acquired the loft space above there flats off the freeholder if so how much did they pay for it?

      I have a one bed flat in South Wales and have had a letter in the past few days off the freeholder asking if I would be interested!

      They want the following:-

      £7000 to enter into deed of variation
      £75 extra per year ground rent
      £850 + VAT legal fees
      £500 for approval of plans for loft conversion if I converted it into a room

      This seems bit much to me so was wondering what other people had paid?

      I have done an advanced search and found loads of information but not much on how much people have paid for loft space.

      Many Thanks
      Mathew.
      Does your lease include the loft area? Please check the wording.


      If it does, then you do not need to acquire it. However, you will/may need the freeholder's consent to convert, which is different and which affects the premium you may wish to pay.
      Kikuyu

      Comment


      • #4
        This thread is a bit unusual. There are many others about loft space, but it's usually the lessee who seeks to acquire/use it (not the lessor who wants to demise it to a quiescent lessee). Kikuyu is right, but also see L's freehold title re what rights (easements) other lessees may have for the loft.
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment


        • #5
          I think you are right it does sound like the freeholder does want to raise some quick cash! Personally I cant see many people taking them up on there offer! The loft space isnt massive plus the cost to convert it I may as well just sell up and buy a 2 bed apartment!

          I have a copy of the lease I will go over it and see if it includes the loft space!

          Only I have access to the loft it is sectioned off around my apartment by brick walls so would be of no use to anyone else!

          Comment


          • #6
            It could be the freeholder is being very clever...

            Are there similar dwellings near you under the same freehold?

            If you reply and accept, then he has generated money out of nothing, but if you respond and say no thanks, then you have acknowledged his ownership, and I guess that may affect any adverse possession you may be accumulating. It could be some neighbours have already adversely taken over, and the freeholder is trying to stem the losses.
            Could the attic be sold to a neighbouring flat owner?

            I may be totally wrong legally, but it's how I'd play the game if possible

            Comment


            • #7
              We need a follow-up to post #5; if the loft is not demised, I doubt that T can claim adverse possession against own lessor L.
              JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
              1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
              2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
              3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
              4. *- Contact info: click on my name (blue-highlight link).

              Comment

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