Buying a Leasehold from a Charity

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  • Buying a Leasehold from a Charity

    Hi

    I am looking to buy a long Leasehold (over 100 years) where the leaseholder is a charity - there are two other flats and one commercial unit in the building and all are let on long similar leases

    Would you see any problem extendig the leasehold ? buying the freehold ? how can i check exactly the status of my freeholder as I beleive it is a charity but not a charitable housing trust?

    Many thanks

  • #2
    pls read where the freeholder is a charity

    Comment


    • #3
      You have the statutory right to seek a 90 year extension after being a leaseholder for 2 years.

      The right to collective enfranchisement ( buying the freehold) depends on floor area of the commercial unit. Cannot buy if commercial portion floor space exceeds 25% of the entire building.

      This information can be confirmed from the free guides at www.lease-advice.org

      Comment


      • #4
        http://www.charitycommission.gov.uk/...nguage=English

        Comment


        • #5
          thanks for that answer

          In regards of extending the lease - this is very good news indeed that I should not worry about the status of the charity - is this due to the fact I have a long lease and hence the flat is not used for the purpose of charity ?

          In regards of the freehold purchase - would you count the basement if any in those calculations ? I am suspecting there might be a basement below the commercial property with access from inside the restaurant - who shoud I ask for this you reckon as this will take the % from 25% to 40% ...

          many thanks

          Comment


          • #6
            tks for that link on charity comission - very useful indeed - I can definitely see that my freeholder is a registered charity but in eduaction - does that explicitely exclude it from being a charitable housing trust ? is there a register for housing trust ? can a charity move from eduation to housing trust ?
            I understand from the above that even if it were a chartiable housing trust, I would still be entitled to extending the lease ?
            Many thanks

            Comment


            • #7
              Your rights to lease extension are contained in a free publication available by download from www.lease-advice.org

              Comment


              • #8
                agree Gordon - I have followed your link - but those rights on the website exclude chartiable housing trust leasing for the purpose of charity hence my question about what is housing trust and is there a register for those ? and if any charity in education or any other freeholder can register itself as a housing trust ? and if the fact I am leasing long for over 100 years excludes the flat from being referred to as used for the purpose of charity ?
                Many thanks

                Comment


                • #9
                  Would anyone be able to advise on the last post pls
                  Many thanks
                  Wissam

                  Comment

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