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You're not on the Lea Bridge Road are you? We're in the same position in a similar block. Here's what we found out.
- If you're the freehold owner, you can block any planning permission, but buying a freehold is a long term solution - planning permission is a short term problem
- If they're granted planning permission it's very likely that that will increase the value of the freehold, making it more difficult for you to actively buy it. The solicitors we spoke to suggested that this is one of the main reasons freeholders are looking into this now, since the planned leasehold reforms are likely to fuck a lot of their revenue streams, so they're looking to get out.
- However (and check this as I'm not 100%) I believe if the freeholder decides to sell it, they have to offer it to you as part of the Right Of First Refusal for no more than they paid for it. This is one of the reasons it might be better to wait, and block planning permission through other routes.
- If you do go down this route I can recommend a planning expert who wrote a report for us and plans to present it to the planning committee on why they shouldn't grant permission.
- Thank god we live in 1930s blocks because if the block was built after 1960something they wouldn't need to apply for planning permission at all.
- If you're the freehold owner, you can block any planning permission, but buying a freehold is a long term solution - planning permission is a short term problem
ReekBlefs-
Ah interesting. Very close, not quite lea bridge road, but clapton. Not same block I assume?!
point 2 - frustrating
point 4 - thank you - one of the other residents has already got someone on board to do this, we've all submitted our objections and they're also contacting the planning department.
point 5 - read the same only last night. -
However (and check this as I'm not 100%) I believe if the freeholder decides to sell it, they have to offer it to you as part of the Right Of First Refusal for no more than they paid for it.
There's a right of first refusal under Part 1 of the LTA87, although the freeholder has to offer the freehold at the price they're proposing to sell it for, not the price they paid for it. It's also quite easy to avoid having to give a right of first refusal if you know what you're doing. Frankly, Part 1 of the LTA87 should be repealed now the right of collective enfranchisement under the 1993 Act is available.
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Thank god we live in 1930s blocks because if the block was built after 1960something they wouldn't need to apply for planning permission at all.
why is that out of interest?
greeno
Brommers
bobble
I know I need to speak to a solicitor on this, but wondering if anyone here has been through something similar regarding freehold purchase.
I live in a block of 50 flats (poorly maintained 1930's building). The freeholder has submitted a planning application to build 2 floors on top of the existing building for 9 new apartments. Will have a separate entrance and zero refurbishment planned for the current structure which is lined with asbestos.
I'm wondering as leaseholders if we can try and purchase the freehold to block this. Residents tried to buy the freehold some years back but only 15 flats out of the 50 wanted to do it.
Guess my question is, if the planning application is successful - will that increase the price we'd have to pay for the freehold? And grateful for any other general thoughts / advice on this if anyone has experienced similar.
Someone has spoken to a solicitor but I'm not getting a clear picture of what the results of that conversation were and hence I want to look into it myself. Apparently we'd have to do a survey to determine the cost of the freehold and they've been quoted 7k to do that and that's put them off.
Thanks in advance