freehold valuation and how to negotiate lease extension outside of the act

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    freehold valuation and how to negotiate lease extension outside of the act

    I am sole freeholder and also a resident leaseholder in a converted terrace into 3 flats.
    Other leaseholders have let me know they are thinking of buying a share of the freehold.
    Both lease have 67 years unexpired and pay £50 each ground rent.
    Gf is worth £200.000 and middle £220000 with long leases.
    Property is in Newcastle.

    What roughly would it cost them to buy a share.

    Also if they dont go ahead with the freehold purchase and simply want to extend their leases but, outside of the act, and only up to say 100 years, does anyone have any experience of what i could expect for that.

    #2
    You need to find an experienced surveyor/valuer who can value your freehold and the lease extensions. Then add what mark up you fancy and include for all your legal costs.
    If they don't like your price they will then have to use the Act method which will require much time and effort from them and a solicitor.

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