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interesting question, I am in a similar situation in an 8-flats block.
I believe a broker would be a cheaper first step into assessing the cost than directly appointing a surveyor, but obviously this is non-contractual.I believe the freehold will increase. The freeholder could very only apply for planning and sell that along with planning permission, as an investement opportunity.
Glws
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